VIENNA Feb 18 Russia's Sberbank may
seek redress over its 505 million euro ($674 million) purchase
of Austrian lender Volksbank AG's eastern European
arm VBI last year, the Financial Times reported, citing Sberbank
CEO German Gref.
"We do have certain issues with the asset quality of what we
bought from Volksbank, compared with what was originally
declared," Gref was quoted by the paper as saying in an
interview published on Monday.
"We anticipate having to have serious conversations with the
auditors as well as with the bank."
Volksbank had no immediate comment. Sberbank did not respond
immediately to a request for comment regarding Gref's criticism.
Sberbank closed the VBI purchase a year ago after getting an
80 million euro discount off the originally agreed price. The
deal gave Russia's top bank a springboard to expand in emerging
($1 = 0.7490 euros)
(Reporting by Michael Shields in Vienna and Oksana Kobzeva in
Moscow; Editing by Louise Heavens)