November 4 (SeeNews) - Vienna-based Sberbank Europe said it has signed a deal to sell six subsidiary banks in Bosnia, Croatia, Hungary and Slovenia with total assets of 7.329 billion euro ($8.45 billion), to Serbia's AIK Banka, Slovenia's Gorenjska Banka and Agri Europe Cyprus in a move to focus on key markets.
On November 3, Sberbank Europe signed an agreement with AIK Banka, Gorenjska Banka and Agri Europe for the sale of its subsidiary banks in Bosnia and Herzegovina Sberbank BH and Sberbank a.d. Banja Luka, Croatia'a Sberbank, Hungary's Sberbank Magyarország, Serbia's Sberbank Srbija and Slovenia's Sberbank banka with a total of 162 branches and some 600,000 clients as of the end of 2020, Sberbank said in a statement on its website.
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It did not elaborate the value of the deal.
The closing of the transaction is subject to approvals by national and international regulators as well as by national competition authorities and is expected to take place in 2022.
“The purchasers have a large regional presence as well as a clear vision of the future development, supporting further growth of the banks and ensuring that the clients will continue to receive services of the same high quality,” the statement added.
Sberbank CZ in the Czech Republic remains under the ownership of Sberbank Europe and will continue with its present business model.
Sberbank Europe is a banking group 100% owned by Sberbank of Russia.
Sberbank Europe Group is also present in Austria and Germany.
The total assets of Sberbank Europe amounted to 13 billion euro as of end-December 2020.
($=0.866 euro)
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