Sberbank of the Russian Federation (Switzerland)

2022: Sale of the bank after the start of Russia's special operation in Ukraine at a price cheaper than $500 million

After the start of Russia's special operation in Ukraine and 5 months after the imposition of blocking sanctions by the United States and its allies, Sberbank managed to sell its subsidiary in Switzerland - Sberbank Switzerland, which finances the trade in raw materials, including grain, and works with giants such as Glencore, Trafigura and Vitol.

The buyer was a certain Swiss company M3 Group, as well as a well-known US citizen Stephen Lynch in certain circles. The amount of the transaction is estimated below the capital of the bank, which before the sanctions was about $500 million. It was Lynch who received from OFAC (US Treasury) a personal license to conduct transactions and a deal with Sberbank, which is under sanctions, and he also structured it. The deal was rumoured to have "hung in the balance" several times and required an incredible effort on both sides of the ocean. This sets a precedent that could be followed by new transactions with sanctioned assets. Stephen Lynch himself has been working in Russia since the 1990s and is known primarily for participating in auctions with Yukos assets.

2011: Purchase of SLB Commercial Bank from Lukoil for CHF 75.3 million

Sberbank completed the acquisition of a 99.145% stake in SLB Commercial Bank AG from OAO Lukoil at the end of December 2011. The deal amounted to CHF 75.3 million. According to the press service of Sberbank, this transaction is part of the implementation of the bank's international strategy and is aimed at developing access for existing and new clients of the bank to its international products and services. Based on SLB, which was renamed Sberbank (Switzerland) AG, Sberbank intends to develop the business of syndicated lending and trade financing in Europe, as well as a number of other products for large corporate clients.

According to Sberbank, Sberbank (Switzerland) AG will primarily work with foreign subsidiaries of Sberbank's largest Russian clients, as well as take part in financing international holdings of Russian companies.

SLB Commercial Bank AG is a commercial bank headquartered in Zurich, Switzerland. SLB was founded in 1988 and provided commercial lending and trade financing services to foreign subsidiaries of OAO LUKOIL. As of December 31, 2010, SLB's assets amounted to CHF 192.4 million, capital including accumulated loss - CHF 78.8 million, net loss in 2010 amounted to CHF 5.9 million.

According to Marker.ru, SLB Commercial Bank was headed by Aleksandr Bazarov, Vice President of Sberbank and Director of the Department for Work with the Largest Clients of Sberbank. In addition, Oscar Racin, the head of the corporate finance department, which is part of Bazarov's department, joined the board of directors.