Gref called for the privatization of the savings Bank and the reduction of state involvement in the economy


BERLIN, November 23. /Corr. Vyacheslav Filippov/. The head of Sberbank German Gref called for the privatization of credit institutions and the decrease in the share of state participation in the Russian economy. He stated this in a report published today an interview with German newspaper Handelsblatt.

“25% (stake) would retain during the transition period the Central Bank. But, in principle, nothing speaks against full privatization of the savings Bank. Private shareholders – in our case it is large investment funds. From the point of view of the development of banking, they can better control the management of the company”, – said the head of Sberbank.

Gref also expressed the view that the share of state participation in the Russian economy is too large and the “privatization would make our country much better.”

The largest shareholder of the savings Bank on April 20, 2015 the Bank of Russia /50% + 1 share/. Share in authorized capital of legal entities-non-residents – 43,26%, private investors – of 3.91%.