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Russia’s Sberbank divests some non-core assets -Breaking

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© Reuters. FILEPHOTO: This logo was displayed in an Sberbank branch in Saint Petersburg, Russia on April 19, 2022. REUTERS/REUTERSPHOTOGRAPHER

(Reuters) – Russia’s biggest lender, Sberbank, has ceased being a shareholder of some assets that are not financial, according to the company on Thursday as it reviews its strategies.

Sberbank stated that it has sold Okko, Zvuk streaming services, SberCloud and online checkout terminals Evotor to Sberbank. Speech Technology Center is a prominent Russian provider of biometric technology.

Lender added that they will continue to maintain partner relations and implement joint marketing and operations activities.

It did not say who was the new or existing owner of the assets.

Sberbank declared in 2020 it wanted Russia to have three of the top e-commerce platforms by 2023. It was an attempt to shift from core banking.

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