Austria’s Volksbank International rebranded as Sberbank EuropeNovember 7, 2012 - 17:17 AMT PanARMENIAN.Net - Russia’s largest state-controlled bank Sberbank has rebranded Austria’s Volksbank International AG (VBI), which it acquired in February this year for 505 million euros, into Sberbank Europe AG, the Russian lender said on Wednesday, Nov 7. “Sberbank Europe AG was registered in the Austrian trade register as of November 1, 2012,” Sberbank said in a statement, according to RIA Novosti. Sberbank acquired 100 percent of Volksbank International, an Eastern European subsidiary of Austria's Oesterreichische Volksbanken AG banking group, in early 2012 in order to further expand into Europe. “The emergence of the Sberbank Europe brand is an important stage in the development of Sberbank, which is successfully transforming into a global financial institution. The synergy of Sberbank’s opportunities, experience and competences and its overseas network which already covers 20 countries allow Sberbank to act as a reliable financial partner for our clients in Central and Eastern Europe,” Sberbank Deputy CEO Sergei Gorkov said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Macron honors Charles Aznavour on 100th anniversary French President Emmanuel Macron has paid tribute to the memory of French-Armenian crooner Charles Aznavour. Erdogan’s approval rating falls below 40 percent: survey A total of 53.4 percent of respondents said they disapprove of the performance of Erdoğan. Blinken says U.S. reviewing a number of aid requests from Armenia He said the U.S. is reviewing the requests to determine what more it can do to increase its assistance to Armenia. At least 2 CSTO members participated in preparing 44-day war against Armenia – PM Nikol Pashinyan has declared that at least two CSTO member countries participated in preparations for the 44-day war against Armenia. |