By Ian Walker
Sberbank Europe AG, a subsidiary of Sberbank Rossia, said late Wednesday that it has agreed to sell some banks in Central and Eastern Europe with total assets of 7.33 billion euros ($8.51 billion), as part of a plan to focus on key markets and explore new business models.
Sberbank said it is selling banks in Bosnia and Herzegovina, Croatia, Hungary, Serbia and Slovenia. They had 162 branches and around 600,000 clients at the end of last year.
The banks are being sold to AIK Banka a.d. Beograd, Gorenjska Banka d.d., Kranj and Agri Europe Cyprus Ltd., and the deal is expected to close next year, the company said.
Sberbank said that it is keeping Sberbank CZ a.s. in the Czech Republic, and that it will continue with its current business model.
Write to Ian Walker at ian.walker@wsj.com