You're reading: Sberbank not expecting growth of provisions, cost of risk for its business in Ukraine in 2016

Sberbank is not expecting an increase of its provisions and cost of risk at its business in Ukraine in 2016, Sberbank Deputy CEO Alexander Morozov said during a conference call on May 25.

“I am not expecting additional provisions and a rise in cost of risk this year,” he said.

The publication Forbes Ukraine in the middle of May reported, citing sources close to talks, that the Ukrainian subsidiary of Sberbank may be sold. Sberbank called this information a rumor: “Sberbank in Ukraine is continuing to pursue its plans. We do not confirm rumors about the sale.”

PJSC Sberbank (formerly PJSC Subsidiary Bank of Sberbank Russia, before that – NRB Bank) was founded in 2001. According to data of the National Bank of Ukraine, as at Jan. 1, 2016 the bank was Ukraine’s fifth largest bank by assets (Hr 51.81 billion) among 109 banks in the country.