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Sberbank Strives for Organic Growth in CESEE
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In 2012, the largest Russian bank took over VBAG´s sub-holding for the CESEE region. As Sberbank still has to invest a lot in the former subsidiary of Austrian VBAG, CEO German Gref is not perfectly satisfied with the acquisition.
Sberbank Strives for Organic Growth in CESEE / Picture: © Vindobona.org
In 2012, Sberbank acquired the CESEE affiliates of Austrian VBAG and Turkish Denizbank Since then, Sberbank faces growing risk provisions. Non-performing loans are not only growing in Russia, but also in other countries.
Nevertheless, Sberbank continues its growth strategy. In the next five years, Sberbank´s net income is projected to double. In the same period, costs…
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