Russian Sberbank's Ukraine subsidiary posts almost $3.9 mln in profit in 9 mths

Since the beginning of the year, its assets have decreased by 15.7%, to UAH 40.679 billion, liabilities shrank by 17.2%, to UAH 36.943 billion, while the equity grew to UAH 3.736 billion.

UNIAN memo. Russian Sberbank's subsidiary has been operating in Ukraine since 2001, being one of the largest financial institutions in terms of assets.

Read alsoUkraine blocks sale of subsidiaries of Russia's Sberbank, VEB – mediaPresident of Ukraine Petro Poroshenko on March 16 signed a decree bringing into effect the decision of the National Security and Defense Council (NSDC) on imposing sanctions for a one-year period in respect of subsidiaries of Russian state-owned banks, namely Sberbank, VS Bank, Prominvestbank, VTB Bank, and BM Bank. The sanctions prohibit any financial transactions involving the transfer of funds to parent banks. However, they do not affect the payments through these banks for Ukrainians and not prevent additional capitalization and sale of the financial institutions.

On March 27, the Russian Sberbank announced the conclusion of an agreement on the sale of a 100% stake in a subsidiary Ukrainian bank to a consortium of investors. Subsequently, the National Bank of Ukraine reported receiving the packages of documents from a citizen of the United Kingdom and the Russian Federation, Grigory Guselnikov, for the approval of the acquisition of a 22.5% stake in Sberbank's subsidiary, and from a citizen of the United Kingdom and the Russian Federation, Said Gutseriev, for buying a 77.5% stake in the bank.