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Russia’s 10th Largest Bank seeks Business Expansion in Kenya & Other African Countries
Privately owned Russian lender Promsvyazbank from Moscow is looking to expand into Kenya & other African markets “because of sluggish loan demand at home,” Reuters reports.
Alexander Meshcheryakov who is the head of transaction, documentary and international businesses at Promsvyazbank told Reuters news agency that they are currently analyzing the business opportunities in Kenya, Nigeria, Rwanda, Tanzania, Uganda, Zambia and other countries.
“There is growing interest in Africa among Russian clients. Many clients come to us with this topic and ask to help them with financing projects in the region.” He said.
Promsvyazbank is owned by the oligarchs Dmitry and Aleksey Ananyev. It is the 10th largest bank in Russia by assets and provides services to more than 100,000 corporate and over 2 million private customers.
