13:45 16.01.2016

Oschadbank suing Ukrainian subsidiary of Sberbank of Russia

State-run Oschadbank of Ukraine (Kyiv) on January 15, 2016, lodged a claim with Kyiv's commercial court against the illegal renaming of the Ukrainian-based subsidiary of Sberbank of Russia, Oschadbank said in a statement on Friday.

Oschadbank stresses that Sberbank of Russia unlawfully uses the trademark "Sberbank" (Oschadbank in Ukrainian), as state-run Oschadbank of Ukraine is the only legal owner of this brand in Ukraine. What is more, state-run Oschadbank is the only owner of exclusive property rights to the trademark "Oschadbank" in Russian and in English.

Oschadbank was founded in 1991. It is wholly owned by 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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