3/30/2024 0 Comments Vbag camera![]() ![]() ![]() I am also confident that the 600,000 clients of Volksbank International and its employees will benefit from Sberbank’s support of VBI’s business and will enjoy new opportunities arising from our ownership.”The deal was actually signed between Sberbank of Russia and the shareholders of Volksbank International AG (VBI) – Österreichische Volksbanken-AG (“VBAG”), BPCE S.A. Concluding a negotiation process that has lasted since last December Sergey Gorkov, deputy head of board of the Russian Credit Organization told journalists Sberbank finally fixed a price on buying VBI, with Sberbank hailing the move as its first key purchase outside the CIS."This landmark transaction represents Sberbank's first acquisition outside the CIS and is the latest step in its transformation from a large domestic financial institution to a leading international bank."Sberbank CEO and Chairman, Herman Gref, speaking in Vienna, hailed the move as dovetailing nicely with the expansion plans of Russia’s largest and oldest bank, stating “The acquisition of Volksbank International is an important milestone in delivering on Sberbank’s 2014 strategy.” Gref added that the move would see Sberbank become a considerably more significant player in Central and Eastern Europe.“This will give us access to the attractive and growing markets of Central and Eastern Europe, and it will serve as a platform for organic growth and further acquisitions in the region. ![]()
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