Contents tagged with Sberbank

  • EU to add Russia's largest bank and Night Wolves biker club to sanctions list

    The European Union is expected to add Russia’s largest bank, Sberbak, and the pro-Kremlin biker club Night Wolves to the list of individuals and companies under sanctions for supporting Russia’s invasion of Ukraine.

    A total of 48 individuals and nine entities are to be added to the sanctions list.

    The new additions include the head of the giant zinc and cooper firm UMMC, Andrew Kozitsyn, as well as the deputy head of Russia's Federal Security Service (FSB), Sergei Korolev. Korolev "is …

  • Major leak at Russia’s largest bank: data of millions of customers leaked online

    Sberbank is investigating the leakage of customers' data to the Internet, the bank reported in a press release. The bank claims that it is studying the authenticity of the data that was put for sale on the Internet.

    The report says there's no possibility for the outside hacking, so data was leaked by one of the employees. Also, Sberbank's representatives assured that there is no threat to the clients.

    Russian newspaper Kommersant got access to a fragment of the database. The publication …

  • Huawei and Russian Sberbank prepare to integrate payment services

    The Chinese giant is taking steps to achieve independence from the American Market. Recently it unveiled its own operating system, and now it has announced that it will be cooperating with a Russian state bank, reports DW.

    Russia’s Sberbank and the Chinese concern Huawei are discussing the possibility of integrating the Huawei Pay service with the bank’s own payment service. “We are also discussing various applications and services, how to create a microsystem, a base, how to combine our …

  • Kazakhstan’s economic growth 6 times faster than Russia’s

    Kazakhstan’s economy is reaffirming its status as one of the fastest growing economies not only among former Soviet states, but even in all of Central Asia, reports.

    Amid the launch of the country’s largest oil field, Kashagan, and a boom in uranium mining, in which Kazakhstan has been number one in the world for seven years, the country’s GDP has been growing nearly six times faster than Russia’s.

    At the end of January-May, government statistics placed the country’s economic growth …

  • Ukraine's National Bank fines Sberbank's subsidiary

    The National Bank of Ukraine (NBU) press service reported that the NBU fined Sberbank’s subsidiary in the amount of 94.7 million hryvnias (more than 3.4 million) for violating financial monitoring legislation.

    It is noted that the Ukrainian regulator fined Sberbank “for repetitive risky behavior in the field of financial monitoring for a total amount of over 3 billion UAH” (over $108 million).

    According to the NBU, Sberbank allowed continuous major financial cash withdrawals from corporate …

  • Russian state banks appeal shares arrest in Ukraine

    Banks with Russian state capital filed cassation appeals against the decision of the Kyiv Court of Appeals to seize their shares. As FinClub news outlet writes, the corresponding appeals were received by the Supreme Court of Cassation on September 14.

    Russian VTB Bank, Prominvestbank and Sberbank still operate in Ukraine. It was reported that the Ukrainian Court of Appeal decided to seize the shares of their subsidiaries under the dispute initiated by the Ukrainain banks. In response, Sberbank …

  • Russia's largest bank loses $1 billion in Turkey

    Sberbank is cutting back on its business outside of Russia, which has been causing it tremendous losses due to US and EU sanctions, reports

    By the end of the year, the largest Russian government bank will have disposed of its subsidiary in Turkey. Denizbank will be sold to Emirates NBD Bank, one of the largest banks in the UAE. A binding agreement has already been signed, Sberbank reported in an IFRS report on Thursday.

    The deal is priced at 14.6 billion lira, equivalent to $2.35 …

  • Russian ruble wiped out by capital outflow

    The Russian currency market continues to sink due to the risk of sanctions and the outflow of foreign capital, reports.

    After gaining 2.05 rubles on Wednesday, 1.11 on Thursday, the US dollar gained a further 1.24 rubles during trade on Friday, reaching 67.8975 rubles, the highest since April 18, 2016. The euro appreciated by 48 kopeks for the day and 3.11 rubles since the start of the week, updating its 4-month high to 77.43 rubles.

    There is a growing lack of foreign currency in …

  • US prepares sanctions against Russian state banks

    In addition to the sanctions against Russian government debt, which promise to cause foreign investors to flee Russia and drive the ruble even lower, US senators have prepared a powerful blow to the Russian banking system.

    A virtually unnoticed provision in the new bill to expand the sanctions proposes new strict restrictions on Russia’s largest state banks, reports.

    This provision may in fact cause more tangible damage to the Russian economy than the restrictions pertaining to …

  • Belarusian bank tries again to buy Russian Sberbank’s subsidiary in Ukraine

    Belarusian Paritetbank, controlled by the Belarusian presidential administration, has applied for the second time to purchase Sberbank’s subsidiary in Ukraine. In a press release, the Belarusian bank said that the necessary documents have already been submitted to the National Bank of Ukraine (NBU), which rejected Paritetbank’s first offer in 2018.

    “We have had enough time to carefully study the demands of the Ukrainian regulator, and to prepare adequately for taking part in the deal,” …