Ukrainian “daughter” of Sberbank bought banks in Latvia and Belarus

Ukrainian “daughter” of Sberbank bought banks in Latvia and Belarus

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The savings Bank sold 100% shares of its affiliate, the consortium of Norvik-Bank and the Belarusian private company


Photo: lime/Alex Maishev

Locked in Kiev the Ukrainian branch of the Russian Sberbank found buyers. 100% of the shares were bought by a consortium which includes Norvik-the Bank of Latvia and a private company from Belarus.

“A consortium of investors acquires 100% of shares of Sberbank of Russia JSC (Ukraine), which is a subsidiary Bank of JSC “Sberbank”. The consortium will include Norvik Bank” (Latvia) and Belarusian private company”, — quotes “RIA Novosti” the message of the press service of Sberbank.

The sale agreement was signed on Monday, March 27. The closing of the transaction is planned to be held during the first half of 2017, after approval by all financial institutions.

Sberbank said that its branch has sufficient funds to make payments to all customers. The Bank’s representatives hope that after the sale the Bank will resume as normal.

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