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 Russian Sberbank looks into quitting Ukrainian market, chairman says

Sberbank is looking for options for closing down its business in Ukraine.

Sberbank Chairman of Board German Gref told a briefing following the meeting of the supervisory board, Censor.NET reports referring to rambler.ru.

"We are looking for options to close up business in Ukraine. We do not have much time given the stance of the government. I would prefer to give no comments until we reach a final decision," he said adding that the assets of Sberbank's Ukrainian arm were less than 0.1 percent of the group's total assets.

Read more: Russia-based Raiffeisen Bank outlets to serve breakaway "DPR"/"LPR" passport holders, - Reuters

"We are considering options for quitting the Ukrainian market as soon as possible. We are in the active stage of considering such options. We cannot say whether the bank will be sold or closed down. We are looking for any options to cease operating in Ukraine," banki.ru quoted Gref as saying.

On Feb. 18, the President of Russian Federation Vladimir Putin signed a decree that declared documents issued to permanent residents of the so-called ''DPR'' and ''LPR'' republics valid in Russia.

Read more: Russia ready to take measures to protect its banks in Ukraine, - Peskov

Later, Russia's Sberbank announced it had started servicing customers with passports of the so-called "DPR/LPR".

March 16, the activists held a rally outside Sberbank outlet at Volodymyrska Street in Kyiv. The rally participants brought concrete blocks and 'immured' its entrance in protest against bank's activity in Ukraine. They also burned flares. Sberbank suspended operation of the outlet at Volodymyrska Street and reported to the police.

On the same day, President of Ukraine Petro Poroshenko approved sanctions against five Russian-owned banks operating in the Ukrainian market.

Read more: Avakov asks Cabinet to impose sanctions against Russian Sberbank
 
 
 
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