Antitrust initiates case against Sberbank, Sberbank Life Insurance

MOSCOW, Dec 5 (PRIME) -- The Federal Antimonopoly Service has initiated a case against Sberbank and Sberbank Life Insurance after finding signs of an anti-competitive agreement between the organizations, the authority said in a statement on Tuesday.

"Citizens' claims concerning a tied sale of the package of services Domclick Plus, including the services of the insurer were filed to the Federal Antimonopoly Service of Russia. The package provides a discount on the interest rate on a mortgage loan from Sberbank," the antitrust said.

The authority said that condition of the acquisition of the package of services for receiving beneficial loan terms violates the rights of the other participants of the market and the people. The bank and the company may have to pay fines on the revenue on the market if the guilt is confirmed.

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