The extension of US sanctions will not affect Kazakhstan’s subsidiary of Sberbank

The extension of US sanctions will not affect Kazakhstan’s subsidiary of Sberbank


On Tuesday, the US extended sanctions list against Russia, including, in particular, a number of subsidiaries of the largest Russian banks – Sberbank and VTB, the structure of Rostec, a major developer “gals-development” and a number of other companies and banks.

ALMA-ATA, 23 Dec. Michael Egorin. Kazakhstan subsidiary Bank (DB) JSC “Sberbank”, the day before included in the U.S. sanctions list, continues to operate as before, providing clients with a full range of banking services, the Bank said on its website.

On Tuesday, the US extended sanctions list against Russia, including, in particular, a number of subsidiaries of the largest Russian banks — Sberbank and VTB, the structure of Rostec, a major developer “gals-development” and a number of companies and banks. Just a list of 34 individuals and legal entities.

“The inclusion of SB JSC “Sberbank” is a part of Sberbank Group, in the sanctions lists in December 2015, does not change the scope and legal force applicable to the savings Bank sanctions. SB JSC “Sberbank” continues to work in a former mode, providing services to clients in full”, — stated in the message.

It explains that effective from September 2014 sectoral sanctions against Sberbank at the same time apply to controlled Sberbank with a share of the company’s direct and indirect ownership of 50 percent or more.

SB JSC “Sberbank” is part of the international Sberbank group. Bank 8 years working in financial market of Kazakhstan and takes 4th place by assets among 38 banks in Kazakhstan. Today SB JSC “Sberbank” has a branch network of 117 branches, 16 of which are branches. The Bank’s headquarters in Almaty.

Earlier that sanctions would not affect the Bank’s customers, reported the Kazakhstan subsidiary VTB Bank.