Ukraine's National Bank claims violations by CBR, Russian MinFin in altering shareholder structure of Sberbank subsidiary

18:47, 12.05.2020 1 min read

The Central Bank of Russia (CBR) and the Finance Ministry have violated regulations in altering the ownership structure of Sberbank's Ukrainian subsidiary, Ukraine's National Bank (NBU) said in a statement on its website.

"The change of the principal shareholder of the Sberbank of Russia subsidiary in Ukraine violated legal requirements as it was not coordinated with the Ukrainian regulator. On April 23, 2020, the NBU learned of the sale by the CBR of a stake of 50%+1 share in Sberbank. Consequently, Sberbank saw its ultimate beneficiary change," the statement said.