Austria: Sberbank Affected By Further Costs

Professional ServicesBanks ♦ Published: January 27, 2014; 16:47 ♦ (Vindobona)

Sberbank is faced with further aids for Austrian Volksbank International (VBI). So far the Russian bank has pumped a total of € 1.3bn into Sberbank Europe.

Austria: Sberbank Affected By Further Costs / Picture: ©

Already at the end of last year, the Russian parent company transferred € 150m in aid capital. However, this capital increase was not the only one last year. In total, Sberbank had to help out its Viennese affiliate three times last year.

According to the bank, the capital increases will be used both in Austrian and CEE countries to support further growth of Sberbank Europe.…