12:31 29.12.2015

Oschadbank claims that renaming Ukrainian Subsidiary Sberbank of Russia as Sberbank is unlawful

State Saving Bank of Ukraine (Oschadbank, Kyiv) ha said that the bank is the only legal owner of the Sberbank brand on the territory of Ukraine and renaming of public joint-stock company Subsidiary Bank Sberbank of Russia as public joint-stock company Sberbank (Kyiv) is unlawful.

"We believe that that Sberbank of Russia's attempts to hide the origin of the bank's capital using this unlawful way are unacceptable. Russia is officially recognized as aggressor country towards Ukraine by the resolution of the Verkhovna Rada," Oschadbank said on Monday.

Oschadbank believes that its rights as the owner of the registered trademarks are violated, and the bank asked public joint-stock company Sberbank (Kyiv) to urgently stop any unlawful use of the Sberbank trademark on the territory of Ukraine during the provision of financial services, as this disorients consumers and violates rights of Oschadbank.

Oschadbank also plans to send corresponding claims to the National Bank of Ukraine (NBU), Antimonopoly Committee of Ukraine and court.

"It is absolutely clear that colleagues want to disassociate themselves from the aggressor country, but we would not allow doing this at cost of the state saving bank," the bank said, citing Board Chairman Andriy Pyshny.

Oschadbank said that the bank faced multibillion losses from the aggression and has to protect its interests, including in international courts.

The bank said that its certificates for the Oschadbank brand were issued in 2003, Sberbank – 2007 and Oschadbank – 2015.

The press service of Sberbank (Kyiv) told Interfax-Ukraine that the new official renaming of Sberbank was agreed with the NBU and it was registered as Ukrainian law requires.

As reported, public joint-stock company Subsidiary bank Sberbank of Russia has been renamed public joint-stock company Sberbank on November 26, 2015.

Sberbank was founded in 2001.

The bank ranked fifth among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 53.75 billion, according to the NBU.

Oschadbank was founded in 1991. Its sole owner is the state.

Oschadbank ranked second among 123 operating banks in the country on October 1, 2015 by total assets (UAH 156.596 billion), according to the NBU.

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