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UPDATE 1-Russia's Sberbank temporarily suspends some lending in Ukraine
February 21, 2014 / 1:52 PM / in 4 years

UPDATE 1-Russia's Sberbank temporarily suspends some lending in Ukraine

MOSCOW, Feb 21 (Reuters) - The head of Russia’s largest bank Sberbank, German Gref, said on Friday the bank had temporarily suspended some lending in Ukraine, but had no intention to exit the market.

Gref said the bank would still extend credit to large enterprises whose financial condition was sound.

He also said the bank has no Ukrainian sovereign debt as all this debt had been redeemed.

Fears that Ukraine may default have raised concerns about the exposure of Russian banks to its sovereign debt, which was downgraded to CCC by rating agency S&P on Friday.

Sberbank said in an emailed statement on Thursday that none of its bank branches in Kiev were damaged as a result of street clashes, but three offices out of 211 in Ukraine, located near the conflict zone, were temporarily closed. (Reporting by Oksana Kobzeva; Writing by Jason Bush; Editing by Megan Davies and David Holmes)

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