Yapı Kredi Bank sells its subsidiary in Russia

Baku. 26 October. REPORT.AZ/ Turkey sells Yapı Kredi Bank Moscow, a subsidiary of Yapı Kredi Bank in Moscow, to Russia's Expobank for $ 57.1 mln.

Report informs citing the Habertürk, Yapı Kredi Bank stated to the Public Disclosure Platform (PDP).

"Our bank has decided to sell its 99.84% stake in Yapı Kredi Bank Moscow to Expobank for 3.3 billion rubles ($ 57.1 million)", says statement.

Yapı Kredi Bank owns 99.8% shares in its subsidiary in Azerbaijan, Yapı Kredi Bank Azerbaijan CJSC.

Notably, Yapı Kredi Bank, a major shareholder of Yapı Kredi Bank Azerbaijan, gained benefit of 2.933 billion TRY in 2016, which makes $ 780 mln.