Russian Sberbank to sell its affiliate in Kazakhstan due to geopolitical situation

By Trend

Russian Sberbank Group and Kazakhstan’s Baiterek National Management Holding have signed a deal for the sale of all packages of shares in Sberbank to Sberbank Kazakhstan (SB Sberbank JSC), Trend reports via Sberbank.

Thus, Sberbank decided to withdraw from the Kazakh market, guided by the current geopolitical situation.

The bank will continue to fulfill all its obligations to customers, and all conditions for banking products for existing customers will remain unchanged.

The transaction will allow the bank to fully resume active operations, attract deposits and make payments, as well as continue developing products and services for the population and businesses.

The parties plan to close the deal in the near future.