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Report: BM-Bank sells stake in Estonian lender

Mar 02, 2017 - SNL European Financials Daily

JSC VTB Bank unit BM-Bank JSC sold a 59.7% stake in AS Eesti Krediidipank for around 800 million Russian rubles, news agency Rambler News Service reported March 1, citing VTB's IFRS 2016 financial report.

The transaction, on which the bank booked a loss of around 100 million rubles, took place in January 2017, the newswire said without naming the buyers.

Estonian lender Inbank AS said Jan. 30 that retail group Coop Eesti acquired a 59.75% stake in Eesti Krediidipank as part of a two-...