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Russia's Sberbank plans to drop its London listing

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The logo is on display in an office of Sberbank in Saint Petersburg
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(Reuters) - Russia's largest lender Sberbank, which has been hit by Western sanctions, plans to drop its listing in London after its depositary terminated an agreement with it, the bank said on Tuesday.

Holders of Sberbank's depositary receipts can exchange them for Sberbank's shares by June 16, the bank said in a statement, adding that it notified the London Stock Exchange of its intention to terminate the circulation of the receipts.

(Reporting by Reuters)