Swiss perspectives in 10 languages

Watchdog extends protective measures at Sberbank Switzerland

Sberbank
These measures, intended to mitigate a risk of liquidity problems at Sberbank (Switzerland), will remain in force until September 1 © Keystone / Michael Buholzer

The Swiss financial regulator (FINMA) has extended previously imposed protective measures at the Zurich-based subsidiary of Russian bank Sberbank.

These measures, intended to mitigate a risk of liquidity problems at Sberbank (Switzerland), will remain in force until September 1, 2022, FINMA said in a statementExternal link on Tuesday. The investigating agent appointed by FINMA will continue to perform their duties.

Specifically, these are measures to protect creditors. They include a deferral of obligations from deposits as well as a far-reaching ban on disbursements and transactions.

The measures, which were imposed in March, had already been extended on June 1 and partially lifted for a short period in July so the bank could settle claims of non-sanctioned creditors. Repayments to sanctioned persons or to the parent company Sberbank of Russia in particular were excluded.

Sberbank (Switzerland) is an indirect subsidiary of Sberbank of Russia. It is not directly affiliated with the Sberbank Europe Group, which is affected by sanctions due to the war in Ukraine.

More
External Content

Popular Stories

Most Discussed

News

No Swiss bank in phase with environmental objectives

More

Swiss banks failing environment, says WWF

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.

Read more: Swiss banks failing environment, says WWF
UNRWA provides emergency assistance to just over one million Palestine refugees, or about 75 per cent of all Palestine refugees in Gaza, who lack the financial means to cover their basic food.

More

Lazzarini: no alternative to UNRWA in Gaza

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.

Read more: Lazzarini: no alternative to UNRWA in Gaza

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

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.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR