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Sberbank Closes Its Representative Office In Bermuda
7.05.2014 12:46
Sberbank Closes Its Representative Office In Bermuda

Sberbank closes its office on Bermuda Islands, reports Vedomosti daily.

      Rocket Bermuda Limited sent a letter to its customers, asking to close their accounts. “Half months ago Sberbank CIB notified us that it terminates business in Bermuda. The asset withdrawal term ends soon," newspaper writes with the reference to a bank customer.

      As he said, Bermuda office provided service to numerous funds and private clients, since there it is more convenient to store securities of Russian issuers and trade them. As stated by one of the Sberbank employees, right now this area is not included in the strategic interests. It was decided to leave all such countries. It may concern the business in Cyprus as well, the investment manager admitted. The reason for that could be the complicated international situation.


Author: Anna Dorozhkina

Tags: Sberbank     

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