Volksbank in Serbia becomes Sberbank

BELGRADE -- Volksbank a.d. Beograd (Belgrade) will do business as Sberbank Srbija (Serbia) a.d. Belgrade as of Monday, the bank has announced.

As the biggest Russian bank that took over Austria's Volksbank branches in southeastern Europe in February 2012, Sberbank "intends to become a leader in Serbia's banking sector", a statement said.

The bank is a member of the Sberbank Europe AG and it runs the network of nine universal banks in nine countries in the region, including Slovakia, the Czech Republic, Hungary, Slovenia, Croatia, Bosnia-Herzegovina, Serbia and Ukraine.

In Russia, the bank has a 28,2 percent stake in the banking sector and it employs over 245,000 people which makes it the biggest bank in the country.

The founder and the majority holder in Sberbank is the Russian Central Bank which holds 50 percent plus one share with the right to vote.