Sberbank Increases Equity by CZK 2 billion toSupport Further Expansion in the Czech Market
Prague, 19 December 2013 –Sberbank CZ today announces that it has received a subordinated loan of EUR 77.3 million (approx. CZK 2.1 billion) from the bank’s sole shareholderSberbank Europe AG for a period of eight years. This will support its expansion in the Czech loan market.
“We are pleased to announce today’s subordinated loan, it will play an important role as we look to deliver on our strategy to expand our presence in the Czech loan market,” said Vladimír Šolc, CEO and Board Chairman at Sberbank CZ.
The transaction, which is subject to the approval by the supervisory authority, has already been approved by the Czech National Bank.
As at 30 September 2013, the balance sheet total of Sberbank CZ exceeded CZK 65 billion (approx. EUR 2.4 billion) , with client loans totalling toCZK 49 billion and client deposits ofCZK 48 billion. This year, Sberbank CZ strengthened its position in the market. In 2013, Sberbank was named the Most Client-Friendly Bank(Best Bank 2013 competition) and the third Most-Dynamic Bank (Fincentrum Bank of Year 2013 competition).
Lucie Hálová
Press department of Sberbank CZ
Tel.: 543 525 240, 737 234 146
E-mail:
Sberbank CZ, a.s.
Sberbank CZ (known as Volksbank by February 2013) has been operating in the Czech market since 1993; since 1 January 1997 as an independent joint stock company with the CNB banking licence. The bank’s main shareholder is Sberbank Europe AG (a subsidiary of Sberbank of Russia). Sberbank CZ is a commercial bank with an extensive portfolio of financial products and services for retail and corporate clients.Sberbank was named the Most Client-Friendly Bank (Best Bank 2013 competition) and the thirdMost-Dynamic Bank (Fincentrum Bank of Year 2013 competition).