ECB says Sberbank Europe is close to collapse

ECB in Frankfurt

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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