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Gazprombank discontinues business activities on Swiss financial market

It is noted that the bank also said that existing business relationships, primarily in the area of trade and export finance, will be wound down or referred to external banking partners in the coming months

MOSCOW, 10 October. /TASS/. The Board of Directors of Gazprombank (Switzerland), the Swiss subsidiary of the Russian banks, decided to discontinue banking operations on the Swiss financial market after considering various options regarding the future business activities.

This is according to a statement published on the website of Gazprombank (Switzerland).

"The Board of Directors of Gazprombank (Switzerland) Ltd has decided to discontinue banking operations on the Swiss financial market following a strategic review of various options regarding the future business activities of the Bank," according to the statement.

The bank also said that existing business relationships, primarily in the area of trade and export finance, will be wound down or referred to external banking partners in the coming months.

"The decision is the result of an in-depth strategy analysis and is being taken in close consultation with the Swiss Financial Market Supervisory Authority FINMA," said Ivan Dun, Chairman of the Board of Directors of Gazprombank (Switzerland), as quoted by the bank’s press service.

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