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Putin: Sberbank privatization not to be considered in mid-term

January 29, 2016, 15:57 UTC+3

The Russian president says that a number of financial institutions should be privatized

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© Ilya Pitalev/TASS

MOSCOW, January 29. /TASS/. Privatization of Russia’s top lender Sberbank will not be considered in the mid-term, President Vladimir Putin said at the meeting with the Finance Minister Anton Siluanov, Central Bank Chief Elvira Nabiullina and Presidential aide Andrey Belousov.

"Next week we’ll discuss issues related to privatization, privatization plans, including for this year," Putin said, adding that there is an opinion that "a number of financial institutions [should be privatized]." "The Central Bank is the key shareholder of the country’s top lender Sberbank," President said and asked Central Bank Chief to give her opinion regarding the necessity to privatize Sberbank.

Nabiullina said she considers Sberbank privatization to be premature. "We think the issue of privatization of a stake in Sberbank is premature now," she said, adding that the confidence of Sberbank’s depositors is based on the fact "that the state holds the controlling stake in it."

President Putin agreed with the view, adding that the issue will not be raised in the nearest future. "I fully agree with you and we won’t return to the issue within the nearest future, and won’t consider the issue within discussion over 2016 privatization," Putin said.

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