17:58 07.04.2017

Sberbank of Russia officially announces withdrawal from Ukrainian market

Sberbank of Russia officially announces withdrawal from Ukrainian market

Russia's Sberbank has officially announced it would leave the Ukrainian market.

The corresponding statement has been posted on the website of the Ukrainian subsidiary of Sberbank.

"Long-term negative trends in the economic life of Ukraine created prerequisites for Sberbank's making the decision to leave the Ukrainian market. The events of the last month - the introduction of sanctions by the NSDC, as well as aggressive and persistent actions by the National Corps party - intensified negotiations with the buyer of Sberbank's assets in Ukraine. Sberbank openly declares its readiness to leave the Ukrainian market correctly, while at the same time protecting the interests of Ukrainian clients and employees as much as possible," the report says.

At the same time, the bank noted the legally binding contract on the sale of PJSC Sberbank to a consortium of foreign investors signed on March 27, 2017.

"We hope that the process of transferring the Sberbank assets in Ukraine to the consortium of new owners will be conducted in accordance with the current legislation of Ukraine and within the framework of international law," the report says.

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