MOSCOW, June 16 (Reuters) – Russia’s dominant lender Sberbank (SBER.MM) on Friday mentioned it had finalised the sale of its Austrian subsidiary to an Austrian firm managed by Stefan Zochling, withdrawing fully from the European banking market.
Sberbank was focused with sweeping Western sanctions quickly after Moscow despatched troops to Ukraine in February 2022, exiting nearly all of its European operations.
Sberbank declined to reveal the worth of the deal, and mentioned all needed regulatory approvals had been obtained.
“The sale of our European subsidiary Sberbank Europe AG to a overseas investor is pushed by the present scenario on this planet,” Sberbank First Deputy Chairman Alexander Vedyakhin mentioned in an announcement. “We’re glad with the phrases of the deal.”
Reporting by Reuters; Writing by Alexander Marrow
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