Thursday, September 29

Russian lender Sberbank agrees sale of Kazakh subsidiary

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MOSCOW — Russia’s largest lender Sberbank has agreed to sell its Kazakh subsidiary to Kazakh state-owned financial holding Baiterek, the bank said on Tuesday without disclosing financial details.

“Sberbank has made the decision to withdraw from the Kazakh market based on the current geopolitical situation and acting in the interests of the subsidiary bank’s clients,” Sberbank said. (Writing by Caleb Davis Editing by David Goodman)