Sberbank / Key word(s): Miscellaneous/Miscellaneous
07.11.2012 13:18

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07.11.2012

VBI is now called Sberbank Europe AG 
New start for the Eastern Europe banking network under the Sberbank brand; long-term business transformation under way

Sberbank Europe AG has been entered into the Austrian Commercial Registry as of November 1, 2012. Volksbank International AG (VBI), previously the Eastern Europe banking subsidiary of the Volksbank AG (ÖVAG), will now officially operate under the Sberbank brand. The Vienna-based banking group manages a network of nine universal banks in eight Central and Eastern European countries. With Sberbank as the owner, new chances and opportunities will open up for the Group.

In Austria, Sberbank has already filed an application for the Austrian banking license.

Since the closing of the sale of VBI to the Russian Sberbank in February 2012, the holding in Vienna and the subsidiary banks in Central and Eastern Europe have undergone a complete transformation process. As a part of this transformation plan, Volksbank Hungary Ltd. is going to restructure its branch network to better reflect market needs. The Bank will maintain its strong presence in Budapest and some other cities. However, 11 unutilized branches of the network will be merged into other locations by December 3, 2012. The Bank will strive to minimize the inconveniences that may arise from the transformation before its customers.

The goal of the transformation is to create a leading, streamlined, modern and customer-centric banking group in Central and Eastern Europe that will be primarily self-funded.

Sberbank Europe AG
Sberbank Europe AG (previously Volksbank International AG) manages a banking network of nine universal banks in eight Central and Eastern European countries: Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Bosnia-Herzegovina, Serbia and the Ukraine. In total the Group's banks operate 296 branches and employ 4,195 members of staff (as of 30.06.2012).
Sberbank of Russia is the largest bank in Russia that accounts for almost one third of all Russian banking sector assets. The Central Bank of the Russian Federation is the founder and major shareholder of Sberbank, owning 50% of the total share capital plus one voting share. Other shares are held by more than 245,000 individual and institutional investors in Russia and internationally. The Bank has the largest distribution network in Russia with over 19,000 offices as well as subsidiaries in 20 countries including the CIS, Central and Eastern Europe.
The Bank holds the general banking license No.1481 issued by the Bank of Russia.
The official website is www.sberbank.ru


07.11.2012 EquityStory.RS, LLC's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Sberbank
              19 Vavilova St.
              117997 Moscow
              Russia
Phone:        +7-495-957-57-21
Fax:          
E-mail:       media@sberbank.ru
Internet:     www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557 Listed: Open Market (Entry Standard) in Frankfurt; MICEX, RTS  
End of Announcement EquityStory.RS, LLC News-Service  

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