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ECB assesses that Sberbank Europe AG and its subsidiaries in Croatia and Slovenia are failing or likely to fail

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The European Central Bank (ECB) has assessed that Sberbank Europe AG and its two subsidiaries in the banking union, Sberbank d.d. in Croatia and Sberbank banka d.d. in Slovenia, are failing or likely to fail owing to a deterioration of their liquidity situation.

The Austrian parent bank Sberbank Europe AG is fully owned by Public Joint-Stock Company Sberbank of Russia, whose majority shareholder is the Russian Federation (50% plus one voting share).

The ECB took the decision after determining that, in the near future, the bank is likely to be unable to pay its debts or other liabilities as they fall due.

Sberbank Europe AG and its subsidiaries experienced significant deposit outflows as a result of the reputational impact of geopolitical tensions. This led to a deterioration of its liquidity position. 

Retail depositors are protected up to €100,000 per depositor per bank in the European Union. This protection is granted by the deposit guarantee schemes in place.

Following the European Central Bank’s assessment, the Single Resolution Board has today decided that Sberbank Europe AG in Austria and its subsidiaries in Croatia (Sberbank d.d.) and Slovenia (Sberbank banka d.d.) are failing or likely to fail.

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