Sberbank's supervisory board approves filing petition with Central Bank of Russia to transfer blocked assets to separate legal entity

MOSCOW. Dec 26 (Interfax) - Sberbank's supervisory board considered the issue of transferring blocked assets and liabilities to a separate legal entity on Wednesday, a source familiar with the situation told Interfax.

On the disclosure feed, the bank only published information about holding a supervisory board meeting on December 24. The agenda was not disclosed due to the right temporarily granted to banks to not publish a certain list of information. The source told Interfax that the meeting considered the issue of segregating blocked assets under federal law no. 292.

Sberbank's press service confirmed this information.

"Sberbank's supervisory board approved submitting a petition to the Central Bank of Russia for segregating blocked assets to a separate legal entity. It is premature to name the amount, as it depends on subsequent decisions by the supervisory board and the Central Bank. At the same time, the amount of segregated assets will be small, as we have been working intensively with blocked assets throughout the year," Sberbank's press service told Interfax.

Sberbank expects to complete the process of transferring blocked assets and liabilities to a separate legal entity in H1 2026, Deputy Management Board Chairman and Chief Financial Officer Taras Skvortsov told Interfax in November. "We are currently in the stage of bringing the issue to the supervisory board. By the end of the year, I think, we will bring it to the supervisory board, and the Supervisory Board will make a decision," he said.

Following this, Sberbank planned at the end of 2025 or the beginning of 2026 to send a corresponding petition to the Central Bank, "in order to complete the transaction in the first half of 2026," Skvortsov said at the time. The amount of segregated blocked assets will be small and will not affect the bank's financial results, he said.

Federal law no. 292-FZ allows banks to create a special legal entity and transfer frozen assets and liabilities to its balance sheet until the end of 2026. In December last year, the Central Bank tightened approaches to banks' work with blocked assets, and six months later made changes easing the procedure for approving the list of property and obligations for transfer to the SPV's balance sheet. The change in the regulator's position allowed Sberbank to begin preparing for the segregation of blocked assets and liabilities.