White Mountain Property » News » The largest bank in Russia could buy Volksbank

The largest bank in Russia could buy Volksbank

Volksbank plans to sell its 51% of Volksbank International and bank Sberbank is Russia's potential buyer. Sberbank is Russia's largest bank.

Volksbank International has operations in nine countries in Central and Eastern Europe, including Romania , and the assets of the institution are about 14 billion dollars. Their book value is 1.25 billion euros and the bank sellers hoping 2 billion euros. .

The Austrian Volksbank said it is considering the sale of holdings in VB Leasing International, Volksbank International, both with operations in Romania.

Romania is the most important market area for Volksbank, but also the most problematic, a subsidiary in Romania with assets of 4.8 billion euros (about 35% of Volksbank International assets worth 13.7 billion euros.

Russian bank Sberbank intended to buy Opel in 2009 with the Canadian company Magna.


January 8, 2011, 12:35 pm

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