10 Oct 2012 12:24

Sberbank of Russia looks at possibility of selling Volksbank Ukrainian subsidiary

KYIV. Oct 10 (Interfax) - Sberbank of Russia is looking over the possibility of selling Lviv-based Volksbank, the Ukrainian subsidiary of Volksbank International (VBI), management board chairman at Subsidiary Bank of Sberbank of Russia Ihor Yushko told Interfax.

Sberbank completed the acquisition of VBI in mid-February. The Russian bank's president and chairman, German Gref, has said that the bank planned to integrate its Ukrainian subsidiary with VBI's division there.

The National Bank of Ukraine has numbers showing that Volksbank was 72nd among 176 banks in the country in terms of assets as of July 1, 2012.