On 3 November 2021, Sberbank Europe AG signed an agreement with AIK Banka a.d. Beograd, Gorenjska Banka d.d., Kranj and Agri Europe Cyprus Limited for the sale of its subsidiary banks in Bosnia and Herzegovina (Sberbank BH d.d. Sarajevo and Sberbank a.d. Banja Luka), Croatia (Sberbank d.d.), Hungary (Sberbank Magyarország Zrt.), Serbia (Sberbank Srbija a.d. Beograd) and Slovenia (Sberbank banka d.d.), with total assets of EUR 7.329 bn, 162 branches and around 600,000 clients (as of YE 2020).
Sberbank Europe AG has decided to reduce its geographic presence in CEE in order to focus on key markets and explore new business models. Sberbank CZ, a.s. in the Czech Republic remains under the ownership of Sberbank Europe AG and will continue with its present business model.
After careful analyses of several options, the transaction with AIK Banka, Gorenjska Banka and Agri Europe Cyprus Limited resulted to be the most attractive one from Sberbank Europe AG perspective.
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 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.
Sberbank Europe
Date: 04.11.2021
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