Sberbank Russian Federation (Switzerland)
Sberbank of the Russian Federation closed the deal on acquisition of 99.145% of stocks of SLB Commercial Bank AG at structures of JSC Lukoil at the end of December, 2011. Transaction amount was 75.3 million Swiss francs. As the press service of Sber stated, this transaction is a part of implementation of the international strategy of bank and is aimed at the development of access for the existing and new clients of bank to its international products and services. Based on SLB which is renamed into Sberbank (Switzerland) AG Sberbank intends to develop in Europe business of syndicated lending and trade financing and also some other products for large corporate clients.
As declared in Sberbank, Sberbank (Switzerland) AG will work first of all with foreign subsidiary companies of the biggest Russian customers of Sberbank and also to take part in financing of the international holdings of the Russian companies.
SLB Commercial Bank AG is commercial bank with the headquarters in Zurich, Switzerland. SLB was founded in 1988 and rendered services of commercial crediting and trade financing to foreign affiliated enterprises of JSC "LUKOIL". Assets of SLB as of December 31, 2010 were 192.4 million Swiss francs, the capital taking into account an accumulated loss — 78.8 million Swiss francs, net loss in 2010 made 5.9 million Swiss francs.
According to the edition Marker.ru, SLB Commercial Bank Alexander Bazarov — the vice president of Sberbank and the director of the department of work with the biggest customers of Sberbank headed. Besides, the board was joined by Oscar Ratsin — the head of department of corporate finances which is included into Bazarov's department.