SRB adopts resolution decisions for Slovenian and Croatian subsidiaries, decides no resolution action required for parent company in Austria.
- Today, the Single Resolution Board has
decided to transfer all shares of the group’s Croatian subsidiary
Sberbank d.d. to Hrvatska Poštanska Banka d.d. (Croatian Postbank) and
all shares of the group’s Slovenian subsidiary Sberbank banka d.d. to
Nova ljubljanska banka d.d. (NLB d.d.). The banks will open on
Wednesday, 2 March, as normal with no disruption to depositors or
clients. They are now part of well-established, robust and stable
banking groups.
- The SRB has also decided that resolution is
not necessary for the Austrian parent of Sberbank Europe AG. Insolvency
procedures will be carried out according to national law. Eligible
deposits up to €100,000 are protected by the Austrian deposit guarantee
system.
The SRB determined
on 27 February that Sberbank Europe AG in Austria and its subsidiaries
in Croatia (Sberbank d.d.) and Slovenia (Sberbank banka d.d.) were
failing or likely to fail due to a rapid deterioration in their
liquidity situation, confirming the European Central Bank’s assessment. The SRB applied suspension of payments, enforcement and termination rights, known as a moratorium, to the three banks.
SRB
© Single Resolution Board
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