Sberbank Europe AG Zweigniederlassung Deutschland products, services and reviews

About Sberbank Europe AG Zweigniederlassung Deutschland

Sberbank Europe AG Zweigniederlassung Deutschland was the German branch of Sberbank Europe AG (Vienna), indirectly owned by Sberbank of Russia until 2022. The branch operated primarily as an online platform under the Sberbank Direct brand, offering retail overnight and fixed-term deposits to customers in Germany. As an EU-passported branch, it was not a separate legal entity; prudential supervision was performed by the Austrian Financial Market Authority within the EU Single Supervisory Mechanism, with BaFin overseeing certain host-state matters. Deposits collected in Germany fell under the Austrian statutory deposit guarantee scheme, which provides protection up to the EU-standard limit per depositor and per bank; the branch was not a member of German private deposit protection arrangements. In late February and early March 2022, following acute liquidity stress associated with geopolitical developments and sanctions, the European Central Bank assessed Sberbank Europe AG as failing or likely to fail and the Austrian supervisor imposed a moratorium; BaFin implemented corresponding measures for the German branch. The Austrian deposit guarantee scheme initiated compensation for eligible depositors in Germany within the legal deadlines, after which the branch ceased new business and was wound down. The former retail savings and term deposit products are no longer available in Germany, and existing customers were directed to payout and claims procedures managed by the Austrian deposit guarantee scheme and the insolvency administration. New account openings are not possible, and remaining activity relates to legacy claims and resolution proceedings.