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Sberbank does not rule out placement of ruble bonds in 2016

September 13, 2016, 20:54 UTC+3

Sberbank expects to reach positive trend in lending to small businesses this year

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MOSCOW, 13 September. / TASS /. Russia’s largest saving bank Sberbank does not rule out a possibility for placement of ruble bonds this year, the bank’s CEO German Gref said at a press conference.

"As for the placement of bonds, I would not like to announce anything. I do not rule out that we can place bonds this year, but I cannot name any parameters of the issue now," he said.

"Concerning small business we have set the task to reverse the negative trend and build up the loan portfolio and to issue loans worth 50 billion rubles ($770 mln) by the end of the year," he said.

Corporate lending

Gref added weak demand in corporate lending will have a negative impact on the dynamics of GDP.

"So far, we see a rather weak demand for loans mainly in the corporate sector. This, of course, will have a negative impact on the dynamics of GDP," he told reporters.

Earlier, Sberbank forecast that corporate loan growth in 2016 will be at the market level, growth for the year could reach 3-5%.

Interest rates decline

According to Gref, a gradual decline of interest rates in the economy can be expected after the Central Bank lowers its key rate.

"If they lower the key rate, not only Sberbank but all banks will be lowering their interest rates. I don’t think that there will be any sharp changes. I think gradual lowering of rates is quite possible," he said.

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