The European Central Bank has assessed that Sberbank Europe AG and its two subsidiaries in Croatia and Slovenia are failing or are likely to fail due to their deteriorating liquidity position.
As stated in a statement, the parent bank, Sberbank Europe AG, is wholly owned by the Russian Sberbank, whose major shareholder is the Russian Federation (more than 50%).
"The ECB took the decision after finding that in the near future it is likely that the bank will not be able to pay its debts or other liabilities as they fall due," it said.
(CNA)
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