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Sberbank of Russia is coming not only from Ukraine but also from Europe

Сбербанк России идет не только из Украины, но и из ЕвропыGerman Gref acknowledged that work in Europe under sanctions is extremely difficult.

Sberbank of Russia plans to close the business in a number of European countries. This was announced by CEO German Gref in an interview with TV channel Russia 24.

“We are also optimising our activities in Europe, from a number of countries we will go,” – said Gref.

He said that the Bank will also optimize the performance of its Central European office.

“In General, under sanctions work in Europe is extremely difficult,” – said Gref.

According to him, the Bank is experiencing strong pressure from the European regulator.

“Although we’re a small Bank in Europe, we are attributed to systemically important banks under the direct control and supervision of the European Central Bank is, of course, very seriously complicated life for the little Bank,” said Gref.

He also said that the European division of the savings Bank has to bear all costs associated with supervision as a systemically important organization.

In Europe, Sberbank is presented in the form of Sberbank Europe – banking group with headquarters in Vienna. 100% of the shares of the group belongs to Sberbank. Sberbank Europe is present in several countries of Central and Eastern Europe. In the summer of 2017, the savings Bank sold its subsidiary in Slovakia.

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