ECB says Sberbank Europe is close to collapse
Russian-owned bank likely to be unable to pay its debts “in the near future”, supervisors say
The European Central Bank has warned that Austria-based Sberbank Europe and two subsidiaries are now close to collapse due to a rapid deterioration of the bank’s liquidity position.
Sberbank Europe is owned by Russia’s Sberbank, a state-controlled firm and the largest bank in Russia. It has subsidiaries in Croatia and Slovenia, which the ECB also believes are likely to fail. At the end of 2021, Sberbank Europe held €13.6 billion ($15.2 billion) in assets.
“In the near future, the bank is
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