Hansabank to expand operations in Russia
Indrek Neivelt, Hansabank Group CEO, gave an overview of the Group's Russian strategy at the annual general
meeting of shareholders held today in Tallinn. He informed the shareholders that Hansabank is analysing the
possibilities for gradually expanding the Group's presence in the Russian market. The Group believes that under
current market conditions an optimal limit for Russian risk is 10% of the Group risk-weighted assets.
In the medium-term Hansabank's strategy includes having leasing operations and a small bank in the Russian
market. As a result the Group is analysing possibilities for entering the Russian banking market either through an
acquisition or a greenfield start-up. Indrek Neivelt, "Our current Russian assets form approximately 5% of the
Group risk-weighted assets. We believe that under current market conditions we can raise the limit to 10%, which still
remains on the conservative side. We see several opportunities on the Russian financial market, but also bear in mind to
limit the risks on an acceptable level." The Group's current activities in Russia have been very successful.
The portfolio of Hansa Leasing Russia - a company established at the end of 2002 to finance the Russian transit sector -
has grown to USD 153 million. The portfolio of trade finance, which mainly serves Russian exporters, amounts to USD 70
million. This spring Hansabank will establish a new leasing company, which will start to provide financing also for
other asset groups, such as equipment and real-estate. The new company will focus on the Moscow and St. Petersburg
region. Additional information: Indrek Neivelt Hansabank Group, CEO +372 6131 372
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RUSSIA IN FACTS
