Russia's Sberbank to reduce presence in Europe

Russia's Sberbank to reduce presence in Europe

Sberbank plans to reduce presence of its banking business in European countries within 1-2 years, First Deputy CEO of the bank Lev Khasis told TASS in an interview on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"We are lowering our presence as the banking business in other countries in view of the geopolitical situation. We have already left Turkey. We already said we are viewing options related to reducing our presence in Europe. I believe [it will take place] in one - two years," TASS cited the banker as saying.

Sberbank Europe AG is a banking group comprising Sberbank’s assets in Eastern and Central Europe. The group is headquartered in Vienna. Sberbank Europe is present on eight European markets, in Austria, Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Slovenia, Serbia and Germany.

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