• SHARE

Europe is carving up Sberbank of Russia PJSC’s business in the region after sanctions sparked by President Vladimir Putin’s invasion of Ukraine prompted a run on its local deposits.

Austria-based Sberbank Europe AG will be liquidated under local insolvency procedures while all shares in its Croatian and Slovenian subsidiaries will be transferred to other firms in those countries, according to the Single Resolution Board, which handles failing European lenders. Shares in the parent company listed in London were down 90% on Wednesday, with Russian stock trading remaining closed.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)