Sberbank denies rumors of Denizbank sale

DAILY SABAH
ISTANBUL
Published 16.06.2016 00:44
Updated 16.06.2016 00:45

Svetlana Sagaydak, deputy chairperson of the executive board of Russia's Sberbank, has announced that they have no intention of putting Turkey's Denizbank up for sale and speculation about it does not reflect the reality of the situation.

Previously, international news agency Reuters released an article based on quotes from sources in the banking sector and claimed that Sberbank was considering selling Denizbank. The article further claimed Sberbank was negotiating with investment banks; however, banks have denied participating in the sale due to the sanctions imposed on Russia.

In an interview with a Russian news agency, Sagaydak said: "Information about the sale of Denizbank is not correct. Denizbank is the most profitable foreign asset of Sberbank with net profit in the first quarter of TL 293 million." Sagaydak said Sberbank recently raised Denizbank's capital and continued by saying, "This rise in Denizbank's capital will ensure the stable development of the country and enable us to support huge investments, which will make us one of the leaders in the banking sector."

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