Sberbank of Russia announces its withdrawal from Europe
Sberbank has announced its withdrawal from the European market.
This is stated in a statement by the bank, according to Interfax.
"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 bank said.
The report notes that because of the order of the Central Bank of the Russian Federation, Sberbank of Russia will not be able to supply liquidity to European subsidiaries.
On February 28, 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.
