Bloomberg News

BNP to Offer Russian Consumer Credit With Sberbank, Echos Says

December 29, 2011

Dec. 28 (Bloomberg) -- BNP Paribas SA will form a joint venture with OAO Sberbank to offer consumer credit in Russia, Les Echos reported, citing officials at the French bank.

The venture will be 70 percent owned by Sberbank and 30 percent by BNP’s Cetelem unit, the financial daily said.

--Editor: James Hertling

To contact the reporter on this story: Gregory Viscusi in Paris at gviscusi@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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