Russia’s Sberbank collapses 95% on London exchange as it exits Europe

https://www.cnbc.com/2022/03/02/russias-sberbank-collapses-95percent-on-london-exchange-as-it-exits-europe.html#amp_tf=From%20%251%24s&aoh=16462511784193&csi=0&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.cnbc.com%2F2022%2F03%2F02%2Frussias-sberbank-collapses-95percent-on-london-exchange-as-it-exits-europe.html

LONDON — Shares of Russia’s Sberbank plunged 95% on the London Stock Exchange on Wednesday to trade as low as a penny after the bank announced that it was pulling out of the European market.

Russia’s largest lender said its European subsidiaries had experienced “abnormal cash outflows” and expressed concern for the safety of its employees and properties.

The European Central Bank ordered the closure of Sberbank’s European arm, Austria’s Financial Market Authority said Wednesday, suggesting it was “failing or likely to fail” after Russia’s invasion of Ukraine triggered a run on deposits.


The Tribulation is commencing…

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