Russia's Sberbank is in a controlled wind-down of its European business, while its Swiss branch is the focus of financial supervision.
Sberbank Europe managed to pay back to the Austrian deposit insurance the sum of 926 million euros ($975 million), which was subsequently paid out to customers in Europe, as Germany's «Boersen-Zeitung» (in German) reported Wednesday.
All savings deposits, including those exceeding the maximum secured amount of 100,000 euros, will be fully reimbursed, and the claims of the Austrian National Bank and the European Central Bank (ECB) can also be paid in full, the report said.
On Tuesday, measures to protect creditors of Sberbank (Switzerland) were extended until the end of May 2022. The Swiss Financial Market Supervisory Authority (Finma) had already taken protective measures against Sberbank in March, including a deferral of deposit liabilities and a broad ban on disbursements and transactions. The authorities also appointed a supervisor.
