Norwegian bank opens Murmansk office
The North Norwegian Savings Bank has agreed about the acquisition of a 10-percent stake in the Russian Tavrichesky Bank. A part of the deal is a 75 percent acquisition of the Russian banks office in Murmansk.
The deal has a value of 70 million NOK (8,8 million EUR), a press release from the bank informs. The Sankt Petersburg-based bank has 450 employees in seven cities.
Northwest Russia is a priority region for the North Norwegian Savings Bank. The Murmansk office will enable the bank to handle the growing economic cooperation between Norway and Russia.
The 10 percent stake will give the bank a board representative in the Russian bank.
Also the North Norwegian Savings Bank’s offices in the Norwegian border town of Kirkenes will be strengthened in connection with the Russian investment, the press release reads.
