The shareholders of Sberbank elected German Gref the President of the financial institution once more during the annual meeting.

      The powers of Gref were extended from November 2015 to November of 2019. Earlier the Head of Sberbank told that the shareholders would decide on the election of the Head of the credit institution. The possibility of the transfer of powers on elections of the Head of the bank to the supervisory board was also considered, but they decided to abandon the idea.

      “We have lived probably one of the most difficult years of all time since 2008. However, we were prepared for the current crisis much better than in 2008. As a result, 2014 can be considered successful for the Group of Sberbank” - Gref said and added that the profit of Sberbank in 2014 amounted to more than two-thirds of the profit of the entire banking sector in Russia.