Sberbank decided to withdraw from the European market

Sberbank has decided to leave the European market owing to the fact that the group's subsidiaries face abnormal cash transactions and security threats to employees and branches.

At the same time, the assets will be enough to pay off customers' deposits, the bank said in a statement.

The bank explained that under local law and the order of the Central Bank of Russia, it cannot provide liquidity to European subsidiaries whose high quality of capital and assets are insured and whose deposits are insured.