The Swiss financial regulator has extended a moratorium on transactions at the Swiss branch of Russia’s Sberbank group as it decides on its future course.
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O destino da filial suíça do Sberbank ainda paira em equilíbrio
The Financial Market Supervisory Authority (FINMA) imposed the measures in March to prevent the bank from paying out money to sanctioned creditors.
They were partially lifted in July to allow payments to authorised creditors, at which time FINMA suggested that the Swiss unit was eyeing a takeover or change of ownership.
Sberbank Switzerland is part of the Russian Sberbank group but is a separate entity from Sberbank Europe, which has been hit with EU sanctions.
On Thursday, FINMA extended the transaction ban until the end of September to give the bank more time to resolve its status.
The bank remains under heightened supervision and is being overseen by an investigative agent appointed by the financial regulator.
A separate Russian bank, Gazprombank, said in July that it is considering a complete or partial sale of its Swiss entity.
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Swiss branch of Sberbank allowed to pay creditors
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The Swiss financial regulator lifts some restrictions on the Swiss branch of Russia’s Sberbank so it can pay off non-sanctioned creditors.
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