The strategic review is expected to last until the end of September and may include a search for potential investors to buy the Zurich-based business.
The banking group, which was set up to provide financial services for the state-owned Russian Gazprom gas company, has yet to feel the full force of Western sanctions following Russia’s invasion of Ukraine. Gazprombank facilitates the export of Russian gas and oil to Europe.
Another Russian bank, Sberbank, is also considering an exit from Switzerland. In March, the Swiss Financial Market Supervisory Authority (Finma) ordered special protective measures for Sberbank Switzerland after it was hit with a wide-ranging ban on making payments and transactions.
Last week, Finma partially lifted these measures to allow the bank to pay off certain creditors. “These payments will enable the bank to reduce its balance sheet, also with a view to a possible sale or change of ownership,” Finma said.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss branch of Sberbank allowed to pay creditors
This content was published on
The Swiss financial regulator lifts some restrictions on the Swiss branch of Russia’s Sberbank so it can pay off non-sanctioned creditors.
Swiss ban Gazprombank Switzerland from accepting new private clients
This content was published on
The Financial Market Supervisory Authority (FINMA) on Thursday said the Swiss branch of the Russian bank had “failed to carry out “adequate economic background clarifications into business relationships and transactions with increased money laundering risks”. An investigation launched in 2016 into 30 Swiss banks based on information from the Panama Papers leaks found the Swiss…
Swiss adopt Russian oil ban and other sanctions over Ukraine war
This content was published on
The Swiss government has adopted the latest set of European Union sanctions against Russia and Belarus over the war in Ukraine.
Finance watchdog orders ‘protective measures’ at Sberbank Switzerland
This content was published on
The Swiss financial regulator has ordered protective measures in anticipation of a risk of “liquidity problems” at the Zurich-based bank.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.