SRB: Sberbank Europe AG: Croatian and Slovenian subsidiaries resume operations after being sold

01 March 2022

SRB adopts resolution decisions for Slovenian and Croatian subsidiaries, decides no resolution action required for parent company in Austria.

• Today, the Single Resolution Board has decided to transfer all shares of the group’s Croatian subsidiary Sberbank d.d. to Hrvatska Poštanska Banka d.d. (Croatian Postbank) and all shares of the group’s Slovenian subsidiary Sberbank banka d.d. to Nova ljubljanska banka d.d. (NLB d.d.). The banks will open on Wednesday, 2 March, as normal with no disruption to depositors or clients. They are now part of well-established, robust and stable banking groups.
• The SRB has also decided that resolution is not necessary for the Austrian parent of Sberbank Europe AG. Insolvency procedures will be carried out according to national law. Eligible deposits up to €100,000 are protected by the Austrian deposit guarantee system.

The SRB determined on 27 February that Sberbank Europe AG in Austria and its subsidiaries in Croatia (Sberbank d.d.) and Slovenia (Sberbank banka d.d.) were failing or likely to fail due to a rapid deterioration in their liquidity situation, confirming the European Central Bank’s assessment. The SRB applied suspension of payments, enforcement and termination rights, known as a moratorium, to the three banks.

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