Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

Regulators have decided to wind down and sell the European operations of leading Russian lender Sberbank as the crisis in Ukraine worsens.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The news comes after the European Central Bank (ECB) said that Sberbank Europe AG and two of its subsidiaries — Sberbank d.d. in Croatia and Sberbank Banka d.d. in Slovenia – are likely to fail as the conflict had impacted their liquidity position.

ECB’s Single Resolution Board (SRB) has announced that all the shares of Sberbank d.d. in Croatia will be sold to Hrvatska Poštanska Banka d.d. (Croatian Postbank).

Nova ljubljanska banka d.d. (NLB d.d.) will take over all the assets of Sberbank Banka d.d. in Slovenia.

SRB said that Sberbank’s Croatian and Slovenian units will resume operation on 2 March 2022 “as normal with no disruption to depositors or clients. They are now part of well-established, robust and stable banking groups.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

For Sberbank Europe AG, SRB has decided to go ahead with insolvency proceedings as per the Austrian law. Deposits up to €100,000 in the Austrian arm are covered by the Austrian deposit guarantee system.

In a separate statement, the European Commission revealed that Czech authorities have decided to close and wind down the Czech subsidiary.

Similar to the Austrian arm, its depositors will be eligible for compensation of up to €100,000.

The US and its allies have imposed several sanctions targeting Russia’s financial system in response to its invasion of Ukraine. The impact of sanctions can be felt across the global markets.

The ECB has been keeping a close watch on banks with substantial Russian exposure that includes Austrian lender Raiffeisen Bank International and the European units of Russia’s VTB Bank.