Raiffeisen replaces JPMorgan as custodian for Sberbank depositary receipts

A view shows the logo of Sber (Sberbank) at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Anton Vaganov

MOSCOW, Sept 26 (Reuters) - Russia's top lender Sberbank (SBER.MM) on Monday said Raiffeisen Bank has become the custodian bank for its depositary receipts programme in place of JPMorgan.

"Applications that investors have already submitted to JPMorgan as part of the compulsory conversion of Sberbank's depositary receipts will be processed by Raiffeisen Bank in accordance with the law," Sberbank said in a statement.

Reporting by Alexander Marrow; Editing by Jan Harvey

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