Gref has ruled out the extension of the savings Bank abroad to the lifting of sanctions
Sberbank SBER will not expand the business abroad, yet it is not the sanctions are lifted, said the head of the largest Russian Bank Herman Gref.
“It is clear that will continue until the sanctions regime, we are under sanctions, and will persist until geopolitical tensions, about any extension, unfortunately, there is no question,” said Gref in an interview with TV channel “Russia 24”.
Earlier, on 13 December the savings Bank has considered international business strategy and decided to expand its presence abroad, said Gref.
The geography of presence covers 22 countries, including Belarus, Kazakhstan, Turkey, Switzerland, several countries in Central and Eastern Europe. Gref said in mid-March that the credit institution in the period of 2016-2017 years will be to reduce the number of subsidiary banks and branches in Europe. The Bank will invest in the development of new business models, new technology platforms.