Sberbank Europe agreed with a number of investors to sell their subsidiaries in Bosnia and Herzegovina, Croatia, Hungary, Serbia and Slovenia. This was reported by the press service of the credit institution, reports TASS.
In the report of the bank, it is indicated that on November 3, the organization signed an agreement with the AIK Banka A.D. Group of Companies. Beograd, Gorenjska Banka D.D., Kranj and Agri Europe Cyprus Limited about the sale of subsidiaries. “With total assets of 7.329 billion euros 162 branches and about 600,000 customers (at the end of 2020),” said the press service.
The total amount of the transaction will be about 500 million euros, including the sale of shares and replacing the financing provided by the Sber. The approval of the transaction is expected in 2022.
“Sberbank Europe AG decided to reduce the presence in Central and Eastern Europe to focus on priority markets and explore new business models,” Sberbank notes.
In August, the Sber once again confirmed the status of the largest issuer of bank cards in Europe. Moreover, this year, the Sberbar was first recognized by the European leader in debit card trade ($ 246.8 billion), over a clear advantage of ahead of the second place Lloyds banking / MBNA from the UK.