BERLIN - Sberbank Europe AG deposits of around 1.1 billion euros ($1.2 billion) were covered by Austria's deposit guarantee scheme (ESA) as per Feb. 26 but there had been no insurance claims so far, ESA said on Monday.
Around 35,000 German customers have covered deposits at Sberbank Europe AG and the proportion of Austrian depositors is "insignificant", ESA said.
The European Central Bank earlier on Monday warned that Sberbank Europe, a subsidiary of Russia's Sberbank, was likely to fail, in an indication of the fallout of the latest sanctions on Russia.
Austria's Financial Market Authority (FMA) imposed a moratorium on Sberbank Europe with immediate effect.
The steps came after Western allies ratcheted up sanctions on Saturday, taking action to banish big Russian banks from the main global payments system SWIFT and announced other measures to limit Moscow's use of a $630 billion war chest to undermine sanctions after the Russian invasion of Ukraine.
($1 = 0.8946 euros)
