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Russia’s Largest Bank Enters Croatian Market

The largest Russian bank, which also happens to be the third largest in Europe, has started operating in Croatia. From yesterday Sberbank has opened under its own name after purchasing Volksbank last year.

The Russians were not holding back yesterday either to celebrate their opening with well-known Croatian cellist Ana Rucner playing a symphony in the air tied to a rope to one of Sberbanks banks. Sberbank, which employs 240,000 people, says that it is ready to finance Croatian business.

“In our banks we have 800 million euros ready for new credit. Mainly that is intended for Croatian businesses,” said Sergej Gorkov from Sberbank. The bank also says that it will finance potential Russian investors in Croatia.

“At the moment we don’t have many examples and we are talking with the Ministry of Finance to work out how to increase Russian investors in Croatia,” added Gorkov. Sberbank will open 30 branches in Croatia.

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