Russian banker Kim boosts car leasing, finance portfolio with VW bank buy
Portfolio Pulse from
Russian banker Igor Kim has acquired Volkswagen Bank Rus, expanding his portfolio which already includes HSBC's former Russian subsidiary.
February 26, 2025 | 2:00 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Volkswagen AG's divestment of its Russian finance arm, Volkswagen Bank Rus, to Igor Kim is part of its strategic exit from the Russian market.
The sale of Volkswagen Bank Rus is a strategic move by Volkswagen AG to divest from the Russian market. This transaction is part of a broader trend of Western companies reducing their presence in Russia. However, the direct impact on VWAGY's stock price is likely neutral in the short term as the Russian market is a small part of its global operations.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80