Exec: Russia’s Sberbank has no plans to sell DenizBank

MOSCOW, Jun 15 (PRIME) -- Russia’s biggest bank Sberbank has no plans to sell its Turkish affiliate DenizBank, Deputy Chairman of Sberbank Executive Board Svetlana Sagaidak told PRIME late on Tuesday.

Previously, Reuters reported quoting four banking sources that Sberbank is studying the sale of DenizBank and has already met with investment bankers, but some of them refuse to partake in the sale due to anti-Russian sanctions.

“The information about the sale of DenizBank is incorrect,” Sagaidak said.

DenizBank is the most profitable foreign asset of Sberbank, its profit amounted to 293 million Turkish liras in January–March. Sberbank has recently injected money in DenizBank so that it could support large-scale investment in the country, she said.

“Moreover, we are aimed at synchronization of processes and technologies and at long-term development of the best practices and of synergy in business, and also at optimization of our business model and at redirection of our focus to digital banking,” she added.

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