PRESS RELEASE:

efcom gmbh suspends business relations with Sberbank Europe AG.

Neu-Isenburg, 28/02/2022 – Due to the current events in connection with Russia’s military invasion of Ukraine, efcom gmbh has decided to suspend all existing business relations with Vienna/Austria based Sberbank Europe AG. This primarily involves the supply of factoring software used in the area of third-party financing. In addition, efcom gmbh will refrain from any further support and consulting services in this area. efcom gmbh also reserves the right to unilaterally terminate the business relationship with Sberbank Europe AG. Sberbank Europe AG is a wholly owned subsidiary of Sberbank (SbRF) Russia, which is predominantly state-owned. It holds almost a third of the assets of the Russian banking sector and is one of the largest lenders to the Russian economy.

“Through this action, on behalf of the entire efcom gmbh, we want to take a firm stand against any military violence and we want to advocate for peace”, says Arnulf Romann, CEO of efcom. “I want to emphasise at this point that this is in no way directed against the people of Russia.”

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