The KEDR bank (Krasnoyarsk) is planning to open a branch in Athens (Greece) in November this year. The bank’s capital totals E9.0 million. According to KEDR, its new branch will become the first branch of a Russian bank in Greece. The branch will focus on foreign trade between Russian and Greek enterprises, the Russian-language diaspora in Greece and the Greek diaspora in Russia, which is mainly concentrated in the Southern Federal District. The bank is also interested in attracting resources in Greece, the cost of which is significantly lower than in Russia.
Source: BANKIR.RU, September 6, 2006
