Sberbank sold its subsidiary in Slovakia

Sberbank Europe AG, a subsidiary Bank of Sberbank, on Friday completed the sale of 99.5% of its Slovak subsidiaries of Sberbank Slovensko group Penta Investments. This is stated in the press release of Sberbank.

“The decision to sell Sberbank Slovensko to the strategy of the revaluation of the markets where Sberbank Europe. The Bank continues to develop digital products and services and at the same time focusing the business activity in major markets,” — said the first Deputy Chairman of Sberbank, whose words are reported.

The transaction amount was not disclosed, as of Dec 2015 the total assets of Sberbank Slovensko amounted to €1.8 billion, the Bank’s services are used by more than 110 thousand active clients.

An agreement to sell 99.5% of the shares of Sberbank Slovensko investment group Penta Investments was signed in December 2015. The newspaper “Vedomosti” then reported that the transaction will close after agreement with the Antimonopoly service of the Slovak Republic and the European Central Bank.

The newspaper recalled that information about the impending sale of the Sberbank’s subsidiary Bank in Slovakia appeared in the February 2015. This was reported by the Czech newspaper Lidovky, while among the possible buyers, the publication has named Unicredit Group, financial group Penta and Slovak division of OTP Bank. The newspaper also quotes the words of Deputy Chairman of Sberbank Sergey Gor, who said that in Slovakia, Sberbank held approximately 4% of the banking market.

In June 2016, Reuters reported that Sberbank met with the investment bankers on the sale of subsidiaries DenizBank, a Turkish Bank. This information was then confirmed a top Manager of the Russian “daughter” of the West Bank and the investment banker. The Agency said then that because of the sanctions imposed on Russia, some banks refuse to participate in the organization of the sale.

July 19, Gref said that Sberbank has no plans to sell DenizBank after the failed coup attempt in Turkey. Previously, the banker stated that the Bank controls the situation in DenizBank, a Turkish Bank operating normally. 738 at DenizBank branches in 81 provinces of Turkey and abroad, the Bank employs about 15 thousand employees. Assets in the first quarter of 2016 increased by 16% and reached 115 billion Turkish liras (2.7 trillion rubles).

In may 2016, the newspaper “Kommersant” said that Russian state banks are looking to sell a subsidiary financial institution in Ukraine. The number of applicants to the publication called the lender. The source said that Sberbank was negotiating the sale of its “daughters”, but they did not succeed. Nevertheless, the Bank continues to seek a buyer, said the interlocutor of the newspaper. Experts have linked the willingness of banks to leave the market with the political situation in the country.