Swedbank divests part of retail client operations in Ukraine

Swedbank (OMX: SWED A) said this afternoon that it has sold parts of its retail portfolio in Ukraine to Delta Bank JSC (KZ: NFBN). The Swedish bank said last September, that it has made the decision to focus entirely on corporate clients in Ukraine and plans to exist all retail segment activities. The sale nets Swedbank about 1.5 billion SEK. According to local media reports in Ukraine the parts of the portfolio sold consisted mainly of automobile and mortgage loans and could have been sold with more than 20% discount.