PRESS RELEASE Banking Agency of Republika Srpska successfully finalized resolution process of "Sberbank" a.d. Banja Luka
Date: 3 March, 2022
SUBJECT: PRESS RELEASE
Banking Agency of Republika Srpska successfully finalized resolution process of "Sberbank" a.d. Banja Luka
As a response to new developments across Europe, provoked by events on the geopolitical scene caused by the conflicts between Ukraine and Russia, and economic and financial sanctions imposed on Russia by the United States, the European Union and other countries, the Banking Agency of Republika Srpska (hereinafter: the Agency) undertook key activities within its competences, as defined by the Banking Law and the Law on the Agency, and initiated resolution process against "Sberbank" a.d. Banja Luka (hereinafter: the Bank), pursuant to the Decision on initiation of resolution process against the Bank, as it has determined that the conditions from the Banking Law of RS have been met.
The Agency conducted an assessment of public interest in terms of achieving one or more resolution objectives defined by the Law, by assessing each resolution objective individually, and determined that the resolution of the Bank achieves all individual resolution objectives, with special emphasis on protection of depositors with insured deposits, protection of clients' funds and other assets, and avoidance of major adverse effects on financial stability.
As of 2 March, 2022, by assessing the possibilities provided by the Law, and on the basis of all analyzed and available options, the resolution plan was adopted through the sale of shares, and on the basis of the offer submitted by "Nova banka" a.d. Banja Luka. The adopted model ensures complete security and continuity of the Bank's operations through the transfer of ownership and providing the necessary models for strengthening the Bank.
In the end, it should be particularly emphasized that by efficient cooperation and prompt reaction of Republika Srpska institutions, and the existence of the entity regulator, the most important objectives have been achieved, which are to preserve the stability of the financial system and protect clients and depositors.
Banking Agency of Republika Srpska