8/24/2011

Russia’s Sberbank looks into Turkey, after Poland

Dunya - Sberbank, the largest state bank in Russia, has started working on the acquisition of Poland’s two major banks, Millennium and Kredyt. Sberbank, who have also signed an agreement to acquire Austria’s Volsbank, is continuing its efforts to acquire or establish a new bank in Turkey. Bank Millennium, which is currently being carefully monitored by Sberbank, is the sixth largest state bank in Poland, while Kredyt is the seventh. Sberbank CEO German Gref, said they are willing to obtain at least five percent of their total net profit from international operations, and that they are currently looking into investment opportunities in Turkey to this end.
sberbank; millennium; kredyt; banking sector; turkish banking; russian bank; german gref; bank acquisition