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 Son of Russian billionaire to become major shareholder in Sberbank's Ukrainian holding

Russia's Sberbank has agreed to sell 100% of its Ukrainian subsidiary to a consortium that includes the Latvian Norvik Banka and a Belarusian company owned by Said Gutseriyev, the son of Russian billionaire Mikhail Gutseriyev.

As reported by Censor.NET citing currenttime.tv, Said Gutseriyev is a British citizen, born in 1988. He has been living in Russia since 2014, heads a company that is part of the BIN group and owns the Orsk refinery. In addition, he holds stakes in several non-state pension funds.

The BIN group was established by Said's father Mikhail Gutseriyev. He is among the top 100 richest businessmen in Russia. The Forbes 2016 ranking lists him as 16th with fortune estimated at $5.9 billion. Gutseriyev owns Russneft and Binbank and is known to have made large investments in real estate.

Read more: Sberbank to sell its subsidiary in Ukraine

"The acquired bank has an excellent infrastructure: hundreds of millions of dollars have been invested in its platform by the previous owner, Sberbank of the Russian Federation. This is a solid basis for the development and sustainable growth of the project," said Said Gutseriyev commenting on the acquisition of the Sberbank's subsidiary.

The Norvik Banka press service called the bank the sixth largest in Ukraine with its assets amounting to some $2.2 billion and network exceeding 150 offices across the country. It boasts almost a million customers.

Read more: Russian Sberbank looks into quitting Ukrainian market, chairman says

The major shareholder of the Latvian bank, the second member of the consortium, is British citizen Grigory Guselnikov. In the past, he headed Binbank owned by Mikhail Gutseriyev.

The sale of the Sberbank's holding in Ukraine took place after activists blocked its offices in Kyiv and other cities across the country. On March 15, the National Bank of Ukraine imposed sanctions against the subsidiaries of Russian banks, banning the withdrawal of capital from the country.
 
 
 
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