Page 96 - RusRPTJul21

has dwindled.
Sberbank Europe AG comprises Sberbank’s assets in Eastern and Central Europe. The group is headquartered in Vienna. Sberbank Europe is present on eight European markets, in Austria, Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Slovenia, Serbia and Germany.
In related news Sber also said that it still intends to sell its Ukrainian business and continues to look for an opportunity to do so, Khasis told TASS.
"We have been trying for many years to find an opportunity to leave the Ukrainian market, and at the same time we fully comply with all the requirements of Ukrainian regulators. Sberbank of Ukraine is perhaps one of the most stable banks existing in Ukraine overall. However, so far we have been unable to obtain regulatory permits to exit the market, and if we manage to do this all of a sudden, we would use this opportunity with pleasure. We want to leave the market by selling our business, and not find ourselves in a situation, where they expropriate it from us in a gangster-like way. We have significant funds there - this is our shareholders’ money," Khasis said.
Ukrainian Sberbank has been under sanctions since March 2017, when Kiev banned it from any financial transactions in favor of those persons associated with it - in particular, parent entities. Since then, Sberbank has been trying to sell its business in that country, but the National Bank of Ukraine refuses to agree on a deal.
8.1.8 Bank news
Russia’s second largest bank VTB plans to raise its net profit calculated under International Financial Reporting Standards (IFRS) by 10% per year after 2022, Dmitry Pyanov, member of the management board of the bank, said in a conference on Tuesday. “In the post-forecast and post-strategic period, I mean the period until the next strategy, we plan that the net profit will grow by 10% each year, and our goal for return on equity in the following period is 17%,” he said. VTB Bank expects its net profit to amount to around RUB270bn in 2021 and to RUB310bn in 2022, he said.
The Russian unit of the Eurasian Bank has been merged into Sovcombank, the central bank said in a statement on JUNE 29. Reorganization was launched in April, after Sovcombank acquired 100% of Eurasian Bank’s unit in December. Sovcombank was Russia’s 10th largest bank by assets as of May 1, while Eurasian Bank was ranked 304th.
96 RUSSIA Country Report July 2021 www.intellinews.com