March 27, 2017 / 8:50 PM / 10 months ago

Russia's Sberbank says sells its subsidiary in Ukraine

MOSCOW, March 27 (Reuters) - Russia’s biggest bank Sberbank is selling its subsidiary in Ukraine to a consortium of investors, which include Norvik Bank (Latvia) and a Belarussian private company, Sberbank said in a statement on Monday.

The deal is expected to close in the first half of 2017 after receiving approval by the financial and anti-monopoly regulators of relevant jurisdictions, including Latvia and Ukraine, it added.

Sberbank said the deal would not have a material effect on its consolidated results according to international reporting standards.

Reporting by Polina Devitt; Editing by Alexander Winning

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