Sistema Public Joint Stock Financial Corporation (MISX:AFKS) is planning to sell the Luxembourg-based East-West United Bank S.A., according to the company's 2022 IFRS annual report. In October 2022, the group decided to sell a 100% stake in EWUB, the statement said. The transaction price will be determined based on the results of an independent assessment, the company added.

Sistema plans to complete the sale in 2023. The company also estimated losses on depreciation of EWUB at RUB 1.47 billion ($18 million).