Russia's Sberbank leaves Europe

Wednesday, 2 March 2022, 9:20

Sberbank has announced its withdrawal from the European market.

This was announced in a statement by the bank, according to "Interfax".

Quote: "In the current situation, Sberbank has decided to leave the European market. The group's subsidiaries have faced an abnormal outflow of funds and a threat to the safety of employees and branches."

The report notes that due to the order of the Central Bank of the Russian Federation, Sberbank will not be able to supply liquidity to European subsidiaries.

On 28 February, Sberbank successfully completed the sale of Sberbank Srbija to the Serbian bank AIK Banka.

Sberbank Europe AG is a banking group that includes the assets of the Sberbank Group of Eastern and Central Europe. Sberbank Europe AG is headquartered in Vienna.

Sberbank Europe was represented in eight European markets: Austria, Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Slovenia, Serbia and Germany.

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