The Swiss Financial Market Supervisory Authority (FINMA) has ordered measures against Sberbank (Switzerland) SA to protect creditors. The bank is also subject to an extensive ban on making payments and transactions.
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Due to the war in Ukraine and international sanctions, Sberbank (Switzerland) SA may have to face liquidity problems, writes FINMA in a press release on Friday evening. The latter ordered the postponement of the bank’s commitments arising from customer deposits for 60 days, i.e. until May 2.
In addition, the bank no longer has the right to make payments or transactions without FINMA authorization that are not necessary for its operational operation. The bank has decided not to enter into new business until further notice and is working to restructure and reduce its business activity.
FINMA has appointed an investigator who will in particular have to monitor the bank’s financial stability on the spot, the guarantee of equal treatment between creditors and the adequate organization of the bank.
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