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Conservative, yet balanced and efficient: Putin praises Russia’s financial system

Earlier in the day, the president held a video conference with Head of Sberbank Herman Gref

NOVO-OGARYOVO, June 9. /TASS/. Russian President Vladimir Putin praised the work of the Russian financial system, as well and major financial institutions.

"I know that our main financial institutions, including Sberbank, have a difficult time meeting the challenges of today. Our financial institutions, with the support of the financial authorities, primarily the Bank of Russia, and partly the government, generally work efficiently, without any failures, demonstrate the best examples of discipline and organization, provide new services for customers," Putin said during a video conference with Head of Sberbank Herman Gref.

According to the President, "this is a very balanced, calm, somewhat conservative, but reliable work of the financial system and major financial institutions".

Gref told Putin that Sberbank had reached high levels in international bank ratings. Meanwhile, Putin also drew attention to the fact that Sberbank "serves a large number of enterprises of various industries." "Their economic, financial well-being depends on how you do it, it is very important," the President said. He also emphasized the importance of Sberbank’s work with people "not only on mortgages, but also on consumer loans".