Tuesday, March 28

Russia’s Sberbank to leave European market in face of cash outflows

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MOSCOW — Russia’s largest lender, Sberbank, is leaving the European market as its subsidiaries there face large cash outflows, the bank said on Wednesday.

The bank said it was no longer able to supply liquidity to its European subsidiary banks but that its capital level and asset quality were sufficient to make payments to all depositors. (Reporting by Reuters; Editing by Clarence Fernandez)