Barclays set for Russian move

Banking group Barclays today entered the Russian retail banking market by agreeing a deal to buy Expobank for US$745m (€490m).

The Moscow-based operation, which has 32 branches across western Russia, caters for more than 250,000 customers. The acquisition is expected to go through by summer this year and will result in Barclays first retail banking presence in the country.