Once the sale of Sberbank of Russia's subsidiary in Ukraine is closed, the bank will be renamed Norvik Banka, the news site 112.ua reported.

"It [the bank] will be renamed. By all appearances, its name will be Norvik Banka, because it will be a subsidiary of European bank Norvik Banka," Russian-born businessman Grigory Guselnikov said on the Ekho Moskvy radio station.

The change in the bank's brand will work in the interests of both the buyer and seller, he said.