Contents tagged with Sberbank

  • Sberbank says rich Russians are taking their wealth back home out of fear of western sanctions

    With new individual sanctions from the United States looming, an ever-growing number of wealthy Russians choose to keep their assets at home in Russia, according to Eugenia Tyurikova, the head of Sberbank Private Banking, a Sberbank branch that services high-net-worth customers, as reported by RBC news.

    According to Tyurikova, in January 2018, the influx of funds grew threefold from the same period in 2017. “First of all, this was due to the expectations of the sanctions. The end of December …

  • Russian Sberbank to trade cryptocurrency through its Swiss subsidiary

    State-run Sberbank of Russia intends to launch trade operations with cryptocurrency through its bank subsidiary in Switzerland, Sberbank Switzerlang AG, as was announced by Sberbank’s Deputy President and head of Global Markets, Andrey Shemetov, according to the RBC news.

    Shemetov said that while Russian law does not permit operations with cryptocurrency, Swiss legislation allows them. “We want to serve our customers and consider that strategically we should have access to all types of …

  • Russian Sberbank admits that it is impossible to operate in the Crimea due to sanctions

    Lawyers from the Russian Sberbank cannot find a legal mechanism that would allow them to operate in the Crimea while avoiding related sanctions, stated Herman Gref, the bank’s CEO, during a lecture at the World Festival of Youth and Students in Sochi, reports RIA Novosti.

    "You can imagine what the price of such an issue is for Sberbank. It is a question of the entire financial system of the country, the competitiveness of the country as a whole. Therefore, the speculators who raise these …

  • Media reveals nearly $130 million will be paid for Ukrainian Sberbank

    Ukrainian Sberbank PJSC is being bought for about $130 million, according to the Kommersant daily newspaper. According to its sources, the amount is comparable to the bank’s present capital, which, according to international reports for January-September 2016, totals $144 million.

    The buyers are businessman Grigory Guselnikov through Norvik Banka and Sayid Gutseriyev, son of Mikhail Gutseriyev, the owner of the PJSC RussNeft oil company. Guselnikov and Gutseriyev will purchase 45% and 55% of …

  • Sberbank of Russia sells its Ukrainian subsidiary

    A press release by Sberbank of Russia announced on March 27th that a consortium of investors involving the Latvian Norvik Bank and a private company in Belarus will acquire 100 percent of Sberbank’s Ukrainian subsidiary,  as reported by RIA Novosti.

    “The consortium of investors is acquiring 100 percent of Sberbank in Ukraine, which is a subsidiary of Sberbank of Russia. Norvik Bank (Latvia) and a private company in Belarus make up the consortium,” the press release of Sberbank said.

    The …

  • Sberbank decides to leave Ukraine

    Russian Sberbank has announced its intention to abandon its Ukrainian subsidiaries.

    “We are looking for ways to withdraw from Ukraine. With such a position from the government, we do not have much time. I would not like to comment on anything, until we reach a final decision,” said Herman Gref, head of Sberbank.

    As reported by Rambler News Service, Gref called the sanctions against Sberbank in Ukraine “illegal actions”.

    “The situation in Ukraine is quite complicated. Emotionally complicated …

  • Ukrainian National Security Council to consider imposing sanctions on Russia’s Sberbank

    President Petro Poroshenko intends to convene the National Security and Defense Council (NSDC) on March 15 on the issue of possible sanctions against Sberbank.

    Minister of Internal Affairs Arsen Avakov spoke about this during an interview with the television channel ZIK.

    "As far as I know, the President is gathering the National Security and Defense Council on Wednesday, and I think that this issue will there be included and considered," Avakov said.

    The Minister hopes that in this way, the …

  • Organizers of the Donbas blockade give Ukrainian government two weeks to close the subsidiary of Russia’s Sberbank

    The organizers of blockade of the Donbas announced their intention to stop the work of Ukrainian subsidiary of Russian Sberbank  within two weeks, as announced at a press conference by the second commander of the Donbas Battalion, Anatoly Vinogorodsky.

    "In two weeks, if the government does not close this bank, we will close it ourselves and all its branches in Ukraine," he said.

    "We are giving two weeks’ notice to all clients of Sberbank of Russia, so that they can withdraw all their deposits. …

  • Ukrainian subsidiary of Sberbank will not provide services to clients using LPR or DPR passports

    The subsidiary bank of Sberbank of Russia in Ukraine, PJSC Sberbank will not provide services to individuals and legal entities based on documents issued in territories beyond the control of the Ukrainian authorities, the bank said in response to a request from Interfax-Ukraine.

    "PJSC Sberbank, being a Ukrainian commercial bank and carrying out its activities on the basis of a license issued by the NBU (The National Bank Of Ukraine), strictly observes the norms of Ukrainian legislation. The …

  • Ukraine to consider imposing sanctions on subsidiary of Russia's Sberbank

    The National Bank of Ukraine (NBU) issued a statement in which it threatened that it would require the National Security and Defense Council (NSDC) of the country to impose sanctions against the Ukrainian "daughter" of Sberbank. The statement of the NBU followed the reports that Sberbank has begun to serve customers with passports from the self-proclaimed Donetsk and Luhansk People's Republics.

    "If this information is confirmed, the NBU will initiate a request to the NSDC to apply sanctions to …