FINMA Partially Lifts Measures Against Sberbank (Switzerland) AG

The Swiss Financial Market Supervisory Authority FINMA is enabling Sberbank (Switzerland) AG to settle claims of non-sanctioned creditors. The bank's improved financial stability and the current situation regarding sanctions are permitting the bank to take this step.

FINMA is enabling Sberbank (Switzerland) AG to settle due claims of its creditors and make corresponding payments from 1 to 5 July 2022. This does not include repayments in particular to sanctioned persons or to the parent company Sberbank Russia. This step is possible because the bank has successfully stabilised its financial situation under FINMA supervision and the international sanctions currently in force permit such payments.

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These payments will enable the bank to reduce its balance sheet, also with a view to a possible sale or change of ownership. The equal treatment of creditors will remain upheld. The bank is required to ensure that the payments comply with the applicable provisions, in particular national and international sanctions law and supervisory law including anti-money laundering.

By carrying out this measure, FINMA is temporarily lifting some of the pro-tective measures ordered for Sberbank (Switzerland) AG. The investigating agent appointed at the bank by FINMA will monitor the pay-ment process. FINMA is retaining its intensified supervision of Sberbank (Switzerland) AG.