Bidders line up for Sberbank's Czech assets – reports

Several financial institutions are interested in purchasing the Czech assets of Sberbank of Russia, local news outlets reported. Among them are PPF Group NV and its Czech unit Air Bank a.s., Ceská sporitelna as and Ceskoslovenská obchodní banka a. s..

Air Bank offered the highest price for the assets, amounting to 52.4 billion koruny, while Erste Group Bank AG unit Česká spořitelna offered to pay 52 billion koruny and KBC Group NV unit Československá obchodní banka offered about 30 billion koruny, Lidovky.cz said June 8.

A decision on whether Sberbank CZ a.s.'s assets will be sold as a whole or in parts will be most likely taken by the end of June, Hospodarske Noviny said June 13. The lender's liquidator told the newspaper the priority is to sell the assets as a whole so as clients' claims against the bank could be satisfied in their entirety.

Sberbank CZ, owned by Sberbank via its Sberbank Europe AG subsidiary, had more than 100,000 clients and 24 outlets across the country before the war in Ukraine started. After Russia launched the invasion at the end of February, the lender experienced an outflow of deposits, and the Czech central bank revoked its license a few months later.

As of June 10, US$1 was equivalent to 23.48 Czech koruny.