Sberbank Europe’s assets may be bought by a group of ex-bank managers – Kommersant

Assets of the Austrian Sberbank Europe can be redeemed by a group of former managers of the banking group, the newspaper reported Der standard with reference to sources. By decision of the European Union (EU), the deadline for the sale is 17 June.

According to the publication, a consortium of former bank managers, including former CEO Gerhard Randa and ex-chairman of the supervisory board of the banking group Siegfried Wolf, became interested in buying assets. The value of the assets is estimated at €200-300 million.

In March 2022 Sberbank accepted decision to stop working on the European market. The bank explained that its “daughters” in the EU faced a large outflow of funds. In the same month, the Austrian Financial Market Supervisory Authority banned Sberbank Europe to work in the country. European Central Bank saidthat Sberbank Europe is on the verge of default. In November Sberbank challenged in the EU court decision on the bankruptcy of their European “daughters”.

Laura Keffer