MOSCOW (Sputnik) — On Monday, Sberbank said in a statement that Latvia's Norvik Banka and a Belarusian company would buy 100 percent of shares of the subsidiary.
Russia's Kommersant newspaper reported that according to the results of the international accounting in January-September 2016, subsidiary's own capital was at $144 million.
Earlier in March, Ukrainian President Petro Poroshenko approved the Ukrainian National Security and Defense Council's proposal to impose one-year sanctions on subsidiaries of five Russian state banks, including Sberbank and VTB. The subsidiaries are no longer able to take assets out of Ukraine.
National Bank of Ukraine Deputy Governor Kateryna Rozhkova later stated that all Russian banks partly owned by the government were looking to sell their Ukrainian subsidiaries.