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Sberbank: Lawsuit Against VBAG
The largest Russian banking group has filed a lawsuit against Austrian VBAG at the International Court of Arbitration.
Sberbank: Lawsuit Against VBAG / Picture: © Vindobona.org
The lawsuit against VBAG is mainly due to the sale price of VBAG´s former subsidiary VBI (Volksbank International). In Febuary 2012, Sberbank acquired the CESEE affiliates of Austrian VBAG. In November 2012, VBI was re-named in Sberbank Europe. Since then, Sberbank faces growing risk provisions. Non-performing loans are not only growing in Russia, but also in other…
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