Sberbank (SBER) Sberbank Europe AG signs share purchase agreement to sell certain subsidiary banks in Central and Eastern Europe to focus on key markets 03-Nov-2021 / 22:57 MSK Release of regulatory announcement containing inside information in accordance with REGULATION (EU) No. 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement.
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Sberbank Europe AG signs share purchase agreement to sell certain subsidiary banks in Central and Eastern Europe in order to focus on key markets
November 3, 2021, Vienna
On November 3, 2021, Sberbank Europe AG signed an agreement with AIK Banka ad Beograd, Gorenjska Banka dd, Kranj and Agri Europe Cyprus Limited for the sale of its banking subsidiaries in Bosnia and Herzegovina (Sberbank BH dd Sarajevo and Sberbank ad Banja Luka) , Croatia (Sberbank dd), Hungary (Sberbank Magyarország Zrt.), Serbia (Sberbank Srbija ad Beograd) and Slovenia (Sberbank banka dd), with total assets of 7.329 billion euros, 162 branches and around 600,000 customers (at from the year 2020).
Sberbank Europe AG has decided to reduce its geographic presence in Central and Eastern Europe in order to focus on key markets and explore new business models. Sberbank CZ, like in the Czech Republic, remains the property of Sberbank Europe AG and will continue with its current business model.
After careful analysis of several options, the transaction with AIK Banka, Gorenjska Banka and Agri Europe Cyprus Limited proved to be the most attractive from the point of view of Sberbank Europe AG.
Buyers have a large regional presence as well as a clear vision for future development, supporting the future growth of banks and ensuring that customers will continue to receive the same quality services.
The closing of the transaction is subject to the approvals of national and international regulators as well as national competition authorities and is expected to take place in 2022.
The transaction will generate proceeds of around 500 million euros, which includes the sale of the shares and the replacement of the financing provided by Sber. Sber expects a neutral financial result and a limited impact on the capital adequacy ratios of the transaction in the Group’s consolidated financial statements.
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About Sberbank Europe
Sberbank Europe AG, headquartered in Vienna, Austria, is a 100% owned banking group by Sberbank of Russia, which is the largest bank in Russia and Central and Eastern Europe, serving more than 100 million of customers. The Sberbank Europe group is present in Austria, Bosnia and Herzegovina, Croatia, Czech Republic, Germany, Hungary, Slovenia and Serbia. In 2014, Sberbank Europe entered retail banking in Germany, asserting itself as a successful direct bank offering attractive savings and credit products in a competitive and dynamic market. At the end of the third quarter of 2021, Sberbank Direct announces a deposit volume of 1.2 billion euros and a total lending volume of more than 600 million euros since the launch of its first retail and fully digital loan on the German market in 2018. Sberbank Europe Group has approximately 800,000 customers, operates 187 branches and has more than 3,900 employees across Europe. The total assets of Sberbank Europe amount to 13 billion euros (as of December 31, 2021).
PJSC Sberbank is Russia’s largest bank and a leading global financial institution. Holding nearly a third of all assets in the Russian banking sector, Sberbank is the main lender to the national economy and one of the largest deposit collectors in Russia. The Government of the Russian Federation represented by the Ministry of Finance of the Russian Federation is the main shareholder of PJSC Sberbank, owning 50% plus one voting share of the authorized capital of the bank, the remaining 50% minus one share with voting rights being held by national and international investor companies. Sberbank has customers in 18 countries. The bank has a large distribution network in Russia with around 14,000 branches, while its international operations – banking subsidiaries, branches and chapters – include the UK, US, CIS, Central Europe and Eastern, India, China and other countries. She holds the general banking license n ° 1481 dd. August 11, 2015, from the Bank of Russia. Bank official websites: www.sberbank.com (Sberbank group website), www.sberbank.ru.
In 2020, Sberbank underwent a rebranding, offering financial and non-financial services of the bank and the Sberbank group to individuals and businesses. Today, the Sber ecosystem is a set of lifelong services and day-to-day assistance to manage the pressing day-to-day problems of individuals and businesses. The Sber ecosystem website: www.sber.ru.
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ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: MSCH TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 125961 EQS News ID: 1246046 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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November 03, 2021 15:57 ET (19:57 GMT)