LONDON (MarketWatch) -- Barclays (UK:BARC) (BCS![]()
) said Monday that it's agreed to buy Russian bank Expobank from Petropavlovsk Finance for $745 million. Barclays said it will finance the deal through its existing cash resources and added it expects the transaction, which is due to close in the summer, to enhance earnings by 2011. Expobank has 32 branches dealing with a range of corporate and wholesale clients principally in Western Russia. Barclays said the deal is part of its plan to increase exposure in emerging markets with good growth characteristics. 
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