03.02.2022
In light of the current situation Sberbank has taken the decision to withdraw from the European market.
The group’s subsidiary banks have faced an exceptional outflow of funds and a number of safety concerns regarding its employees and offices.
Furthermore, due to a directive from the Central Bank of Russia, Sberbank of Russia cannot provide liquidity to its European subsidiary banks.
At the same time, Sberbank’s subsidiary banks remain highly capitalized with high-quality assets and customer deposits remain insured in accordance with local legislation. The bank has enough assets to execute payments to all of its depositors.
Source: Sberbank
Check out Sberbank, Russia’s biggest bank, stock chart in London…
Was $15 a share on 16th Feb.
Opened today at $2.50.Now worth one and a half cents, basically worthless.
Although someone brave piled in and bought for $1 after their breakfast. pic.twitter.com/rpAoFRvjSw
— Faisal Islam (@faisalislam) March 2, 2022