SBRCY - Sberbank Europe units labeled as failing or likely to fail by ECB

Three of Sberbank of Russia's (OTCPK:SBRCY) (OTCPK:AKSJF) European units are railing or likely to fail as their liquidity deteriorates, the European Central Bank said in a statement. Sberbank Europe AG and its two subsidiaries in Croatia and Slovenia have experienced "significant deposit outflows as a result of the reputational impact of geopolitical tensions," the ECB said. "And there are no available measures with a realistic chance of restoring this position at group level in each of its subsidiaries within the banking union." The ECB notes that retail depositors are protected up to  €100K per depositor per bank in the EU. The protection is granted by the deposit guarantee schemes in place in Austria, including for the German branch of the bank, Croatia, and Slovenia. Europe's Single Resolution Board needs to confirm the ECB's failing or likely to fail assessment and will decide on and implement the next steps. At year-end 2021,

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Sberbank Europe units labeled as failing or likely to fail by ECB