Sberbank Leaves Europe

Sberbank Leaves Europe

In light of the current situation Sberbank has taken the decision to withdraw from the European market.

The group’s subsidiary banks have faced an exceptional outflow of funds and a number of safety concerns regarding its employees and offices.
Furthermore, due to a directive from the Central Bank of Russia, Sberbank of Russia cannot provide liquidity to its European subsidiary banks.
At the same time, Sberbank’s subsidiary banks remain highly capitalized with high-quality assets and customer deposits remain insured in accordance with local legislation. The bank has enough assets to execute payments to all of its depositors.

Source: Sberbank

Related articles

  1. The Federal Reserve said the pilot exercise will be launched in early 2023.

  2. SEC said control deficiencies and scope of the conduct at issue here was "staggering."

  3. The bank expects to hire several hundred employees in the region.

  4. Employees routinely communicated about business matters using text messaging on personal devices.

  5. Basel Committee Consults on Interest-Rate Risk

    LCH SwapAgent said trade highlights its coordination of the transition to risk free rates for non-cleared OTC ...