Solution found for customers of the former Sberbank banka in Slovenia: unlimited access to all funds on account and banking services as of 2 March 2022

Banks under Russian ownership are facing a loss of confidence as a result of the sanctions imposed on Russia for its military aggression against Ukraine. Consequently the European Central Bank and the Single Resolution Board took the decision to close the Sberbank Europe AG banking group, which also has a subsidiary bank in Slovenia.

On 1 March 2022 a solution has been put in place for customers of the former Slovenian subsidiary Sberbank banka, which will allow all customers to transact as normal and have their funds at their full disposal as of 2 March 2022. The bank has been taken over by Nova Ljubljanska banka, which decided to purchase the Slovenian subsidiary Sberbank banka.

Banka Slovenije should reiterate that the aforementioned solution maintains financial stability in Slovenia, without burdening other banks or taxpayers.

In the given situation there were two options for the resolution of Sberbank banka: (i) winding up the bank and repaying savers under the rules of the deposit guarantee scheme, or (ii) finding a new owner, which would allow all business relations to be maintained, for borrowers and savers alike.

An agreement was reached for the sale of Sberbank banka to the largest banking group in Slovenia, Nova Ljubljanska banka. This has ensured that all customers of Sberbank banka in Slovenia will be able to use their banking services as normal as of 2 March 2022.

We should reiterate that Sberbank banka is the only bank in the Slovenian banking system that is under Russian ownership. All other banks are operating stably.

An explanation of the decision and clarifications with regard to the parent bank and other subsidiary banks can be found on the Single Resolution Board website.