Top Russian lender leaves EU ...News

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Top Russian lender leaves EU
Sberbank has finalized the sale of its Austrian subsidiary, according to a statement Russia’s largest lender Sber has completed its withdrawal from the EU banking market, the bank said in a statement published on its website on Friday. It confirmed it’s finalized a deal on the sale of its subsidiary in Austria, Sber Vermögensverwaltungs AG in Abwicklung, which was the bank’s last branch operating in the bloc. Sber’s press service noted that it had obtained all necessary regulatory approvals for the sale, but did not disclose the value of the deal. The bank’s Austrian unit will be taken over by a local firm control

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