Sberbank sold its subsidiary in Kazakhstan
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It is noted that the transaction was closed on mutually acceptable financial terms and received all regulatory approvals.
After the sale, the work of the bank will not change. The credit institution emphasized that the bank will continue to fulfill all obligations to customers. It is specified that the rebranding of the organization in Kazakhstan will take place soon.
The agreements on the sale of Sberbank’s subsidiary in Kazakhstan became known at the end of August. Then the organization explained that they were guided by the “current geopolitical situation.”
The day before also It revealedwhat VTB will continue to work in Kazakhstan. “Despite the fact that he [ВТБ] is also included in the sanctions list, it continues operations in the national currency, these operations are not prohibited, according to the restrictions that were introduced by the countries that imposed sanctions,” said Madina Abylkassymova, Chairman of the Agency of the Republic of Kazakhstan for the regulation and development of the financial market.
Immediately after the start of a special military operation in Ukraine, blocking US sanctions were imposed against several Russian banks, including Sberbank and VTB. Also, sanctions against banks were imposed by the EU and the UK, after which credit institutions were disconnected from the SWIFT system.
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