SARAJEVO (Bosnia and Herzegovina), March 3 (SeeNews) – Bosnian lender Nova Banka [BANJ:NOVB-R-E] acquired Sberbank Banja Luka, a local subsidiary of Sberbank Europe based in Austria, itself controlled by Russian Sberbank, the government of the Republika Srpska said, after announcing that it would buy the bank itself.
The Republika Srpska has decided to sell all shares of Sberbank Banja Luka after taking control of the bank on February 27, Deputy Director of the Republika Srpska Banking Agency Srdzan Suput said in a government statement on Wednesday. of the entity.
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Details related to the transaction were not disclosed.
On Monday, the Republika Srpska announced that the entity government would take over Sberbank Banja Luka to preserve the stability of the entity’s financial system.
Sberbank Europe had another subsidiary in Bosnia, Sarajevo-based Sberbank BH, which was sold to local lender ASA Banka earlier this week. Russia’s main lender, Sberbank, this week sold all of its units across southeastern Europe.
Last week, the bank branches of the two Bosnian entities, the Federation and the Serbian Republic, declared that they had taken control of the two local units of Sberbank Europe in order to preserve the stability of the Bosnian banking system and to protect depositors and creditors from bank of potential fallout from Western sanctions against some Russian banks.
On Tuesday, Western countries agreed to exclude seven Russian banks from the SWIFT financial messaging system, but retained access to Sberbank.
Sberbank BH dd (formerly known as Volksbank BH dd) is one of the largest banks in SEE, for more reference check out top 100 banks