Bloomberg:Sberbank to Use Volksbank as Springboard for Turkey, East Europe Expansion

OAO Sberbank will use the acquisition of Volksbanken International AG as a springboard to expand into the former communist part of Europe and Turkey as it seeks to become a “global bank,” Chief Executive Officer German Gref said. Russia’s largest bank yesterday agreed on the “major terms” of its purchase of Oesterreichische Volksbanken AG (VBPS)’s assets across central and eastern Europe. Sberbank plans to use the business as a platform for further acquisitions, Gref told ...

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