Sberbank Threatens to Sue VBAG

Businessn.a. ♦ Published: February 19, 2013; 12:28 ♦ (Vindobona)

Last year, VBAG has sold VBI (Volksbank International) to Russian Sberbank. Now, Sberbank is highly dissatisfied with the performance of VBI.

Sberbank Threatens to Sue VBAG / Picture: ©

In an interview with Financial Times, Sberbank´s CEO German Gref said that the performance of VBI is not satisfying at all. Gref is “disappointed” at the situation of VBI. The losses of VBI may become even higher than expected.

Gref: “There are some problems with the asset quality of what we have purchased from VBAG. Gref explains that he wants to have talks with VBAG and…