Sberbank of Russia (MISX:SBER) is planning to sell its subsidiary banks in Kazakhstan and Switzerland by the middle of July, the bank's first deputy chairman of the executive board Alexander Vedyakhin told Interfax news agency on June 15. Kazakhstan's Baiterek stands as the primary contender to buy Sberbank's local operation, while a buyer for the Swiss bank has been lined up, Vedyakhin said. "Negotiations are going very positively," he added, in reference to the proposed Kazakh deal.

Vedyakhin saw the deal to sell the Kazakh subsidiary potentially closing before July 5-10.