OAO Sberbank expects profit to jump more than 20 percent next year from this year’s record as Russia’s biggest lender boosts corporate loans and issues more credit cards, Chief Executive Officer German Gref said.
Russia isn’t in danger of a revolution from demonstrations against alleged fraud in parliamentary elections last month and the government is “on the right track” in responding to them, the head of the country’s biggest bank said.
OAO Sberbank, Russia’s biggest lender, expects a “maximum price” as it sells a 7.6 percent stake after the U.S. and European central banks announced measures to spur economic growth, Chief Executive Officer German Gref said.
OAO Sberbank Chief Executive Officer German Gref , Russia’s economy minister under then-President Vladimir Putin for eight years, testified today in the second trial of jailed former billionaire Mikhail Khodorkovsky .
Preferred shares of OAO Sberbank, Russia’s biggest lender, fell to a seven-month low after Interfax reported Chairman German Gref signaled the securities will not be converted into ordinary shares in the near future.
OAO Sberbank, Russia’s biggest lender, will decide in two to three weeks on buying the eastern European unit of Oesterreichische Volksbanken AG, which would be its first major move outside the former Soviet Union.