Sberbank has restructured the debts of almost all construction companies

Sberbank has restructured the debts of almost all construction companies


Among the clients of Sberbank there are no construction companies that were in difficult economic circumstances, said Herman Gref at a meeting with Russian President Vladimir Putin.

SOCHI, 10 Nov. Sberbank has restructured the debts of almost all construction companies that had a debt to him, said the head of Bank Herman Gref at a meeting with Russian President Vladimir Putin.

“We must be careful to work with construction companies, not to bring them to a complex state, from which it will be difficult to get out,” he said.

In response Gref informed the President that while such construction companies that would be in a difficult economic situation, among clients of Sberbank no. He noted that last year was the only problem with the company “Mostovik”.

“This year, thank God, such high-profile situations we have in the portfolio not. We did restructure (debt — ed.) almost all construction companies. We understand that this, and most likely, next year they will have difficulty to survive,” said the head of Sberbank.

He expressed the hope that from 2017 on the construction market begins recovery, demand and growth of the market. “The resource in order to support the sector, we have. We will try to reduce mortgage rates. The lowest possible rates to keep new projects and made a very long restructuring on good developers,” — said Gref.