Sberbank opens additional reserve line for units in Belarus, Kazakhstan

A view reveals the emblem of Sber (Sberbank) on the St. Petersburg Worldwide Financial Discussion board (SPIEF) in Saint Petersburg, Russia, June 5, 2021. REUTERS/Evgenia Novozhenina

MOSCOW, Feb 28 (Reuters) – Russia’s dominant lender Sberbank (SBER.MM) on Monday mentioned it had opened a further reserve line for its subsidiary banks in Belarus and Kazakhstan, because it grapples with sanctions and the fallout from Russia’s invasion of Ukraine.

Sberbank mentioned it might assist its subsidiaries in Belarus and Kazakhstan.

Reporting by Reuters, Modifying by Louise Heavens

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