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Sberbank's Privatization
November 5, 2017 12:43


Privatization of Sberbank can be discussed after the restoration of the Russian banking sector. This was stated by the head of the Central Bank Elvira Nabiullina.

"When the active phase of the recovery of the banking market is over, and concerns about the stability of individual private banks will decrease, we can return to the discussion," she said. The Central Bank as a shareholder of Sberbank is obliged to take into account the attitude of Russians towards this issue, Nabiullina said.

"Polls show that the people's confidence in the bank depends on state ownership," the head of the Bank of Russia said. In November 2016, the Ministry of Economic Development proposed to include Sberbank in the privatization plan for 2017-2019. At the same time, the president of Russia's largest credit organization, German Gref, said that there would be no sale of Sberbank's stake in the foreseeable future.

The Central Bank is the main owner of Sberbank. The regulator owns 50 percent plus one share of the financial institution.


Author: Anna Dorozhkina


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