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August 7, 2022

Volksbank Romania to be sold after a repositioning of two-three years

Volksbank Romania will get repositioned in the next two-three years, after which it will be sold, a press release announced yesterday, after the signing of a final agreement for the sale Volksbank International, without its Romanian operations, to Russian state-owned Sberbank, which is also Russia’s largest bank. Also, Volksbank International would provide Sberbank a EUR 500 M financing, and the Russian group will take upon itself debts amounting to EUR 2..5 bln euro. The transaction price will be set by the end of the year, and will range from 585 to 645 M euro, according to the Volksbank International performance this year. Sberbank taking over Volksbank International is the Russian bank’s second takeover this year, after the purchasing of brokerage firm Troika Dialog for USD 1 bln.

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