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Sberbank Europe Generates Net Profit of EUR 34 Million
Vienna based Sberbank Europe looks back at its best annual result since the acquisition of Austrian Volksbank International in 2012.
April 11, 2019
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Sonja Sarközi Appointed New CEO of Sberbank Europe
Sonja Sarközi, currently Chief Retail Banking Officer of Sberbank Europe, has been appointed as new CEO by the supervisory board. She will succeed Gerhard Randa as of 1 July 2018.
May 29, 2018
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How do Russian Politicians and Oligarchs Withdraw their Money from Austria?
The Russian money nobility has begun to repatriate large amounts of its western-hoarded money back to Russia in order to deprive it of access by Western authorities. The countries of origin are above all Switzerland, but also Austria and Great Britain. Sberbank, Russia's largest and state-owned bank, speaks of an atypically high capital inflow to Russia. Within a few weeks, a tripling of such repatriation transactions took place compared to the same period of the previous year. The sum is hundreds of millions of dollars. The average transfer amount has increased within a year by 50% to 3 million dollars. This meets with the Kremlin's desire to repatriate Russian assets.
February 22, 2018
Axel Hummel Appointed CEO of Sberbank Europe
Sberbank Europe AG announces the appointment of Axel Hummel as its new CEO, following the resignation of Mark Arnold. The appointment is effective 22 October 2014, subject to regulatory approval. Sberbank Europe AG is based in Vienna.
October 27, 2014
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Analysis: Russia - Assessment of EU and Tightened US Sanctions
Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.
July 31, 2014
Austria: VBAG Downgraded to Junk Status
Moody´s has lowered VBAG´s rating. According to the rating agency, the partly nationalized Austrian bank has no investment grade anymore.
March 29, 2014
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VBAG to be completely Nationalized?
According to experts, VBAG is the only Austrian bank which will not pass the stress test. In this case, there are only two alternatives: liquidation or full nationalization.
March 6, 2014
VBAG to Sell Romanian Subsidiary
The Austrian partly nationalized VBAG has started the sale of the loss-making Romanian affiliate.
March 5, 2014
Bawag to Be Sold?
According to rumours, the fifth largest Austrian lender may be sold.
January 31, 2014
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Austria: Sberbank Affected By Further Costs
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.
January 27, 2014
VBAG: Call for Further State Aids Likely
The Austrian VBAG (Volksbanken AG), top institute of the Volksbanken sector, still has a substantial capital shortfall.
December 21, 2013
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Austria: VBAG May Require Further State Aid
Partially nationalized VBAG is expected to post losses of more than € 200m.
December 20, 2013
Sberbank: Lawsuit Against VBAG
The largest Russian banking group has filed a lawsuit against Austrian VBAG at the International Court of Arbitration.
November 29, 2013
Sberbank Strives for Organic Growth in CESEE
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.
November 27, 2013
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VBAG: Capital Requirement up to € 1.0bn
The partially nationalized Austrian bank needs further capital injections next year.
November 16, 2013
Austerity Cuts at Sberbank
Russian Sberbank aims to become more efficient. The management cuts about a tenth of the jobs.
November 13, 2013
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VBAG to Downsize Radically
In order to become competitive again, the partly nationalized VBAG and the Volksbanken sector will cut its structure.
October 12, 2013
Rosneft Wants to Take over Majority of TNK-BP
The World’s biggest oil company Rosneft intends taking over British-Russian joint venture TNK-BP at the beginning of next year.
September 30, 2013
Sberbank: New Head of SME Business
Sberbank Europe AG appointed Csongor Németh as new Head of SME business
May 2, 2013
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Sberbank Europe AG Appoints Igor Strehl to Management Board
Igor Strehl moves from Management Board of VTB Bank to Sberbank Europe.
April 19, 2013
VBAG is Forced to Continue Radical Downsizing Measures
The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.
March 15, 2013
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Romania As Risk Factor for Austria´s Public Finance
The partly nationalized Austrian banking group VBAG faces difficulties in Romania. The Austrian Ministry of Finance tries to prevent further capital injections into VBAG.
March 2, 2013
VBAG: Major Losses in Romania
The Romanian subsidiary of Austrian VBAG suffers from non-performing loan. Last year proved to be again a difficult one for the Romanian banking system, Raiffeisen Research states.
February 21, 2013
Sberbank Threatens to Sue VBAG
Last year, VBAG has sold VBI (Volksbank International) to Russian Sberbank. Now, Sberbank is highly dissatisfied with the performance of VBI.
February 19, 2013
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VBAG: High Losses Ahead
The partially nationalized Austrian bank is expected to record losses of more than € 150m in 2012.
January 12, 2013
Sberbank Intensifies its Relations with Turkey
In future, the Sberbank of Russia is to step up its activities in Turkey and on December 3, 2012 signed two landmark agreements to this end.
December 5, 2012
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VBI Is Now Called Sberbank Europe AG
VBI (Volksbank International), the former Eastern European division of Austrian VBAG was renamed to Sberbank Europe.
November 7, 2012
VBAG to Cut More than 1,000 Jobs
Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.
September 21, 2012
Volksbank International AG (VBI) Enlarges Managing Board
Thoralf Arlt and David O’Mahony are appointed to the VBI Board by RussianSberbank.
September 21, 2012
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Sberbank to Provide € 300m for VBI
The Russian Sberbank intends to inject € 300m into the Austrian VBI (Volksbank International). Growth into the CEE region should be promoted.
July 13, 2012
VBI: Sberbank Injects € 300m
The Russian Sberbank raises the equity base of its new Austrian subsidiary VBI, which should become the hub for the CEE region.
April 24, 2012
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S&P: Austrian Banks Still Weakly Capitalized
The U.S. rating agency S&P regards Austrian banks to record high capital shortfalls.
April 11, 2012
Major Loan to Immofinanz by Russian Sberbank
The Austrian real estate company Immofinanz Group and the Russian Sberbank have concluded a long-term financing agreement with a volume of up to $ 715m.
April 11, 2012
„Bank Aids Are Lost“
The economist Franz Hahn (WIFO, Austrian Institute of Economic Research) argues that the nationalized banks are not interesting for potential buyers.
April 10, 2012
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VBAG´s Executive Board Asked to Resign
Parts of the Volksbanken sector, which hold stakes in VBAG, offer resistance to the management board.
March 3, 2012
VBAG to be Acquired by BAWAG?
According to market rumors, the financially stricken VBAG could be taken over by the U.S. investment fund owned Bawag.
March 2, 2012
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VBAG´s Rescue Endangers Austerity Targets
In 2012, savings should reach € 576m. However, only write-offs in VBAG cost € 700m. The Austrian government seeks for additional revenues.
February 29, 2012
Partial Nationalization of VBAG Planned
The financially stricken Austrian bank receives new capital. The Republic of Austria makes contributions of € 1.05bn. Bank taxes will increase.
February 27, 2012
Sberbank Upgrades VBI´s Headquarter in Vienna
After the acquisition of the Austrian VBI, the Russian bank wants to expand massively in Europe.
February 20, 2012
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Siegfried Wolf Enters Sberbank
The Austrian national and executive at Magna in Russia becomes President of VBI´s supervisory board.
February 16, 2012
VBI Sale: Closing Expected for Mid-February
The Russian Sberbank buys VBI from Austrian VBAG. The price totals € 505m.
February 6, 2012
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VBAG No Systemic Bank Anymore
After the sale of VBAG´s subsidiary VBI to Russian Sberbank, the bank will not be systemic anymore, the Austrian Financial Market Authority announced.
January 21, 2012
VBAG: Sale of VBI to Be Closed in 2012
Contrary to the original schedule, the sale of the eastern European bank will not be closed by the end of the year.
December 29, 2011
Growing Capital Shortfall at Volksbanken Group
The Austrian bank will need another € 200m in order to comply with the EBA’s capital requirements. The price for the sale of VBI might be reduced to € 500m.
November 24, 2011
Sale of Volksbank International Finalized
The Eastern European subsidiary will be sold for a price ranging from € 585m to € 645m depending on business performance in 2011.
September 8, 2011
Sberbank Reduces Offer for VBI after Drop of Share Prices
Sberbank wants to pay less for the purchase of Volksbank International after European bank shares have dropped more than 20%. Executives are going to meet on 28 August to negotiate the deal.
August 26, 2011
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VBAG: Reduced Consolidated Net Income in First Half of Year
The Austrian bank recorded net income of € 1m. The result was negatively impacted by write-downs of Greek bonds.
August 25, 2011
VBAG and Sberbank Agree on Sale of VBI
After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.
July 15, 2011
Volksbanken Group Speeds Up Sale of VBI
In the face of the looming negative result of the stress test, the Austrian bank is trying to conclude negotiations with Russian Sberbank.
July 13, 2011
OTP Bank Shows Interest in Volksbank International
The Austrian Volksbanken AG found a second potential buyer for its Eastern European subsidiary. The Hungarian OTP bank wants to expand into the markets where VBI has a presence.
July 7, 2011
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