Sberbank in talks on subsidiary sale with Kazakh holding

Sberbank in talks on subsidiary sale with Kazakh holding

Sberbank is holding talks with Kazakh Baiterek on the sale of its subsidiary bank in Kazakhstan, Chairperson of the Agency for Regulation and Development of the Financial Market told reporters on Thursday.

"Sberbank made the decision to sell its subsidiary bank in Kazakhstan and is currently holding relevant negotiations with Baiterek holding on the bank sale," Madina Abylkassymova said.

The parties will announce details of the transaction closer to its completion, she noted. Sberbank Kazakhstan remains stable despite the assets reduction after introduction of anti-Russian sanctions, has liquid assets and the high quality loan portfolio, the official added.

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