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Central & eastern EuropeApril 3 2005

Hansabank seals Russian deal

Hansabank Group has announced the successful completion of the acquisition of the Moscow-based Kvest bank.
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The Estonian-headquartered Baltic banking group, majority owned by FöreningsSparbanken (Swedbank), paid $3.4m for 100% of Kvest bank’s shares.

At the end of February 2005, Kvest bank’s assets were €2.9m with shareholders’ equity of €1.3m.

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