Gref calls for Sberbank privatisation

Sberbank CEO German Gref

Sberbank CEO German Gref

Sberbank CEO German Gref has called for the full privatisation of Russia’s largest lender in a radical move which is likely to be resisted by Kremlin hardliners. In an interview with Handelsblatt today, Putin’s former Economy Minister argues that the Russian government is “too heavily involved in the economy.” The state-run Central Bank of Russia currently controls a 50% stake plus one voting share, which Gref suggests could be diluted to 25% for a transitional period.
 Sberbank controls about 46% of all of the nation’s deposits and more than a third of all retail and corporate lending.

Source: intellinews