Sberbank sells six banks in South East Europe to focus on key markets

ZAGREB (Croatia), November 4 (SeeNews) – Vienna-based Sberbank Europe has announced that it has signed an agreement for the sale of six subsidiary banks in Bosnia, Croatia, Hungary and Slovenia with total assets of 7.329 billion euros ($ 8.45 billion) to Serbian AIK Banka, Gorenjska Banka of Slovenia and Agri Europe Cyprus with the aim of focusing on key markets.

On November 3, Sberbank Europe signed an agreement with AIK Banka, Gorenjska Banka and Agri Europe for the sale of its banking subsidiaries in Bosnia and Herzegovina Sberbank BH and Sberbank ad Banja Luka, Croatia’a Sberbank, Hungarian Sberbank Magyarország, Serbian Sberbank Srbija and Sberbank banka of Slovenia with a total of 162 branches and some 600,000 customers at the end of 2020, Sberbank said in a statement posted on its website.

He did not specify the value of the deal.

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 buyers have a broad 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 statement added.

Sberbank CZ in the Czech Republic remains the property of Sberbank Europe and will continue with its current business model.

Sberbank Europe is a banking group wholly owned by Sberbank of Russia.

Sberbank Europe Group is also present in Austria and Germany.

Sberbank Europe’s total assets stood at 13 billion euros at the end of December 2020.

($ = 0.866 euros)

AIK Banka AD is one of the biggest banks in SEE, for more reference take a look at the Top 100 Banks

Source link

About Eleanor Blackburn

Check Also

Microfinance Provider Partner Expands Energy Efficiency Portfolio in Bosnia and Herzegovina

With the help of the Green for Growth Fund (GGF), Partner has grown into one …