Sberbank agreed to sell a subsidiary Bank in Slovakia

Moscow. December 17. Sberbank Europe AG, a subsidiary Bank of Sberbank group, has signed an agreement to sell belonging to him, the package in 99,5% of shares of Sberbank Slovensko group Penta Investments, stated in the press release of Sberbank.

The parties shall not disclose information about the transaction amount. The transaction will be closed after the standard approvals from Antimonopoly service of the Slovak Republic and the European Central Bank.

The decision to sell Sberbank Slovensko was made in the framework of the revision of the strategy of the international presence of Sberbank Europe.

In Sberbank Slovensko operates 665 employees, according to the report for the third quarter of 2015, the Bank’s assets amounted to 1.86 billion euros.

Penta investment group, was established in 1994 and working in Central Europe. In Slovakia the group already owns two banks – Primabanka Slovensko and Privatbanka. Manages assets in the healthcare, financial sector, manufacturing, retail and real estate. In companies included in the group, employs 35 thousand employees, total assets as of the year 2014 amounted to 6.7 billion euros. Penta operates in more than 10 European countries, has offices in Prague, Bratislava, Warsaw and Munich.

Sberbank Europe – banking group with headquarters in Vienna, Austria, 100% owned by Sberbank. Sberbank Europe is present in 11 countries in Central and Eastern Europe: Austria, Bosnia and Herzegovina (Sarajevo and Banja Luka), Croatia, Czech Republic, Hungary, Slovakia, Slovenia, Serbia, Ukraine and Germany. Across the region Sberbank Europe operates 288 branches, employing about 5 million employees.