Estonian media: Nordea bank may sell Baltic branch

Take note – story published 8 years and 1 month ago

Nordea Bank AB has decided to sell its Baltic branch and is looking for a buyer, reported Estonia's public broadcaster ERR Monday via business paper Äripäev that quoted several independent sources.

According to Äripäev, preparations are underway to sell off the Nordic bank’s Baltic branch in the near future. The paper cited sources that saw Estonia’s LHV Bank or the British HSBC as potential buyers, reported ERR.

Asked for comment, Nordea reportedly stated that as a stock quoted company they couldn’t comment on speculations and hearsay.

Nordea’s profit in the Baltic States recently amounted to €91m, which is more than three times as much as they made in the preceding year. The improved reported profits could be an attempt to make the Baltic branch more attractive to a potential buyer. Nordea’s Baltic business is worth an estimated €1bn.

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