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Russian Economic Development Ministry proposes to privatize Sberbank

November 10, 2016, 15:59 UTC+3
Sberbank CEO Herman Gref noted that no one has approached him to discuss a possibility of the bank’s privatization in the coming years
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© Stanislav Krasilnikov/TASS

MOSCOW, November 10. /TASS/. The Economic Development Ministry proposes to include Sberbank in the privatization plan for 2017-2019, Deputy Economic Development Minister Yevgeny Yelin.

"VTB and Sovcomflot are definitely on the list. Sberbank is being considered," he said, adding that the government is now considering the privatization plan for 2017-2019.  

The Russian government, however, has not made a decision to reduce its participation below the controlling stake in Sberbank, VTB and Rosselkhozbank, Deputy Finance Minister Alexei Moiseev told reporters.

"There is no decision to reduce the state's share below 50% plus one in the state banks. There were conversations that the share may fall below 50% in Sberbank or VTB and Rosselkhozbank - no decision has been made yet," he said.

Sberbank CEO Herman Gref  noted that no one has approached him to discuss a possibility of the bank’s privatization in the coming years and that "it is unlikely to happen":

"No one has discussed it (possible privatization of Sberbank) with me. I think we're always ready for it, but this is unlikely to happen, because it is the matter the country's president should decide on and it requires changes in legislation.".

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