Sberbank Europe at the end of 2021 was presented in the markets, and Austria Czech Republic. Germany
2023: Sale of Austrian "daughter" and withdrawal from the European market
In mid-June 2023, Sberbank announced its complete withdrawal from the European banking market. The last asset was a "daughter" in Austria, the deal to sell it was closed.
According to RBC, Sber transferred a 100% stake in Sber Vermogensverwaltungs AG in Abwicklung (formerly Sberbank Europe AG) to an Austrian company controlled by Stefan Zochling. The financial terms of the agreement were not disclosed. According to the first deputy chairman of the board of Sberbank Alexander Vedyakhin, Sber is satisfied with its conditions and plans to focus on the development of financial services in Russia and in the markets of friendly countries. To carry out the transaction, all the necessary regulatory approvals were obtained, Sberbank notes.
 | We jumped out of this asset on the last day. This is the last asset. We, thank God, managed to do this day by day [until June 16, there was a license to exit assets in the EU - approx. Interfax]. In my opinion, it is fully reserved with us, so we have a net financial result, the entire amount will go, - said the President - Chairman of the Board of Sberbank German Gref |  |
A businessman named Stefan Zochling holds the positions of CEO and CFO of the Austrian company Remus, which produces sports exhaust pipes for cars and motorcycles. On the website of Remus, the Remus Group, which it is a member of, and on their social networks there were no messages about the deal at the time of publication of this text.
On June 14, 2023, the Austrian newspaper Der Standard reported that a subsidiary of Sberbank in Austria could be bought by a group of former bank managers, including former CEO Gerhard Randa and ex-chairman of the supervisory board of the banking group Siegfried Wolf. According to the newspaper, the value of assets was estimated at €200-300 million.[1]
2022
Czech Central Bank revokes license from Sberbank CZ
On April 20, 2022, the National Bank of the Czech Republic revoked the license from the local bank Sberbank CZ, which was part of the Sberbank Europe banking group. The decision is not final, Sberbank can appeal.
Sberbank announced its departure from Europe
In early March 2022, Sberbank announced its withdrawal from the European market. The credit institution, which fell under the sanctions of the United States, the European Union and the United Kingdom, listed several reasons for such a decision:
- abnormal cash outflow;
- threat to the safety of employees and offices;
- lack of opportunity to supply liquidity to European subsidiary banks due to the order of the Central Bank of the Russian Federation.
Sberbank noted that its subsidiary banks have a high level of capital and asset quality, customer deposits are insured in accordance with local legislation. The bank's assets are sufficient to make payments to all depositors, its statement said.
According to Kommersant, in the Czech Republic, Sberbank suspended the work of branches on February 25, 2022. Then it was alleged that employees were attacked, and clients were aggressive due to disagreement with the Russian military operation in Ukraine. It is noted that an attempt to stage a pogrom was thwarted in one of the departments.
At the end of February, it was reported that Sberbank opened an additional reserve line for its subsidiary banks in Belarus and Kazakhstan and will provide them with all the necessary support, if necessary. Sberbank's subsidiaries in these countries continue to operate normally and fulfill all their obligations to customers and partners.
By the beginning of March 2022, the Sberbank Europe group includes Sberbank assets in Eastern and Central Europe. The headquarters of Sberbank Europe AG is located in Vienna, the group is represented in eight European markets: in Austria, Bosnia and Herzegovina in Sarajevo and Bang Luka, Croatia, the Czech Republic, Hungary, Slovenia, and Germany. The group served 715 thousand customers in Europe, its total assets amounted to 12.94 billion euros.[2]
2021: Daughters sold in Bosnia and Herzegovina, Croatia, Hungary, Serbia and Slovenia
On November 3, 2021, Sberbank Europe signed an agreement on the sale of subsidiaries in Bosnia and Herzegovina, Croatia, Hungary, Serbia and Slovenia with total assets of 7.329 billion euros, the closure of the transaction is expected in 2022 after the approval of regulators, the press service of the bank reports.
At the same time, Sberbank Czech Republic (Sberbank Czech Republic) will remain in the possession of Sberbank Europe and will continue to work according to the current business model.
"On November 3, 2021 Sberbank Europe AG, a subsidiary of Sberbank Group, signed an agreement with AIK Banka a.d. Beograd, Gorenjska Banka d.d., Kranj and Agri Europe Cyprus Limited on the sale of their subsidiary banks in Bosnia and Herzegovina (Sberbank BH d.d. Sarajevo и Sberbank a.d. Banja Luka), Croatia (Sberbank d.d.), Hungary (Sberbank Magyarország Zrt.), Serbia (Sberbank Srbija a.d. Beograd) and Slovenia (Sberbank banka d.d.) with total assets of 7.329 billion euros, 162 branches and about 600,000 customers (at the end of 2020), "the statement said.
Sberbank Europe explains that it has decided to reduce its presence in Central and Eastern Europe in order to focus on priority markets and explore new business models.
The buyer is a large Serbian diversified holding MK Group. Part of the holding is the banking group AEC Ltd., its main asset is AIK Banka (Serbia), which owns assets in Slovenia. AIK Banka seeks to expand its presence in accordance with its long-term strategy to become one of the leading banking groups in the Southeast European region, the press service explained.
The Sberbank Group expects a neutral financial result from the sale of subsidiary banks, with the transaction amount of about 500 million euros, including the sale of shares and the replacement of financing provided by the group.
2015: Volksbank AG declares bankruptcy
On July 4, 2015, the Volksbank AG group filed for bankruptcy and termination of activities in the banking sector and continuation in the mining industry.
2012: Sberbank buys 100% of Volksbank International AG for €600 million
In September 2011, Sberbank of Russia signed an agreement with the banking group Volksbank AG, from which, later, it acquired a 100% stake in Volksbank International AG, for 600 million. euro. On February 15, 2012, it was announced that the sale of Volksbank International was closed.
International divisions, before their sale to Sberbank of Russia, worked in Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Romania, Serbia, Slovakia, Slovenia and Ukraine.
1850: Founding of the Bank
Volksbank AG - a banking group in Austria was founded in 1850.
Notes
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