December 17, 2019 / 7:01 AM / a month ago

Russia's Sberbank registers trading unit in Swiss Zug

MOSCOW, Dec 17 (Reuters) - Russia’s largest lender Sberbank has registered a trading unit in the Swiss canton of Zug, the company said on Tuesday, which will be involved in international commodity financing and trading.

Sber Trading Swiss AG (STS) plans to open the office and to begin trading in the first half of 2020.

“The creation of STS in the European jurisdiction will help us to enter new markets, and increase the scale and diversification of our commodity operations,” said the deputy chairman of Sberbank’s board, Anatoly Popov. (Reporting by Tatiana Voronova; Writing by Alexander Marrow Editing by Katya Golubkova)

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