OSLO, April 25 Norwegian bank DNB has
sold its operations in Russia as part of its strategy to focus
operations on its core markets, in a transaction it said would
not have a significant effect on the bank's results, it said on
The bank would not disclose the terms of the agreement to
sell JSC Commercial Bank DNB Bank to Asokerco Trading Limited
"This is a part of our communicated strategy. Our operations
in Russia were small, with only five bank branches," spokesman
Thomas Midteide told Reuters.
Midteide said the transaction was not motivated in any way
by the conflict in Ukraine.
(Reporting by Camilla Knudsen, editing by Gwladys Fouche)