Support The Moscow Times!

Expobank Regains Name

The retail network of banks sold by Barclays to a group of investors including Igor Kim in October will have its former name of Expobank restored, Kommersant reported Monday.

Barclays bought the Expobank chain in 2008 as the ambitious first step of a Russian expansion program. But the British high-street name subsequently joined the list of foreign banks — including HSBC, Santander, Saxo Bank and Robobank — to have cut back their Russian operations in the last two years.

Financial sector investor Kim was permitted to use the Barclays brand for nine months under the terms of the 2011 sale.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.