CEO says Sberbank gets favorable offer to sell Denizbank

MOSCOW, Feb 13 (PRIME) -- Russian national top lender Sberbank has received a favorable offer to sell its Turkish subsidiary Denizbank, whose work is complicated by sanctions, but hasn’t yet formed a position on the issue, CEO German Gref told reporters on Tuesday.

“We do not have a final opinion yet, because we have just started preliminary work on this issue because it is becoming difficult for us to work on the market,” Gref said.

“Being under the sanctions, it is difficult for us to show a stable result.”

He said that competition on international markets is tough.

Denizbank demonstrates very good results, and Sberbank estimates prospects of the Turkish market positively, Gref said. “But we’ve received a very good offer and entered negotiations,” he said.

In late January, Sberbank confirmed holding talks with Dubai’s Emirates NBD to sell Denizbank.

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