Sberbank completes Troika Dialog acquisition

Russia’s biggest bank by balance-sheet and Europe’s third largest bank by market capitalization, state controlled Sberbank of Russia has completed the acquisition of the investment banking and brokerage business of the Troika Dialog group. The USD 1 billion merger process had started 10 months ago and Troika Dialog will now become part of Sberbank’s corporate investment banking division. The acquisition will give the country’s biggest lender a big boost in its effort to carve out a niche in the investment banking industry.