FINMA extends protective measures at Sberbank (Switzerland) AG

The Swiss Financial Market Supervisory Authority FINMA is extending the duration of its measures at Sberbank (Switzerland) AG up to and including 30 September 2022.

On 4 March 2022, FINMA announced that it had taken protective measures at Sberbank (Switzerland) AG to protect the bank's creditors. These included a deferral of the bank's obligations from deposits and a wide-ranging ban on payments and transactions (cf. press release). These measures were already extended on 2 August 2022 (cf. news).

After the measures were partially lifted for a short time (cf. press release) so that the bank could settle claims of non-sanctioned creditors, the measures are now being extended up to and including 30 September 2022 owing to heightened international sanctions. The investigating agent appointed by FINMA will continue to perform their duties.