Sberbank Targeting RBI

Professional ServicesBanks ♦ Published: May 30, 2011; 13:08 ♦ (Vindobona)

The Russian bank intends to expand its business to Kazakhstan and the Baltic countries. Both companies denied speculations about a potential capital injection.

Sberbank Targeting RBI / Picture: © Raiffeisen Bank International AG / S. Klimpt

Russian banks are currently focusing on acquisition targets in Eastern Europe. For this purpose they reach out for Western banks which have a widespread network in the region. Russian state-owned Sberbank, which has been interested in an acquisition of Volksbank International for quite some time, is said to evaluate a capital injection for the listed Raiffeisen Bank International…