German Gref proposes to privatize Sberbank

Being a state Sberbank can not uncontrollably absorb other Russian banks, and the status of the state prevents it from doing business abroad, taking into account international sanctions against the Russian Federation.
08.06.2018
RBC
Origin source
Instead of raising taxes, the state should abandon the controlling stake in Sberbank, sell it and channel the proceeds to reforms. Such a statement made the head of the Savings Bank German Gref.

"I think that there is no need to keep (controlling stake. - RBC), I do not see any reason why it should be kept," Gref said at a press conference, pointing out that to implement presidential decrees it is better "to sell instead of raising taxes" actions and to direct this money for reforms.

Commenting on the idea of ​​the Central Bank and FAS to prohibit state banks from acquiring other banks in order not to restrict competition, Gref said that in that case he does not understand who will buy banks at that time. "I do not understand then who will buy them. Today there are no private banks either. In general, I think that these prohibitions are not needed by anyone, "Gref said.

At the end of February, the head of the Central Bank Elvira Nabiullina reported that the share of banks with state participation in the Russian banking sector exceeded 66%. "This is a historical legacy, a widespread habit of citizens to trust their money with state property," the head of the Central Bank explained, noting that the situation should change with time, as the banking sector improves and confidence in private banks on the part of citizens increases.

The fact that the Federal Antimonopoly Service (FAS) and the Bank of Russia plan to prohibit banks with state participation of buying other banks, told in January the Deputy Head of the Federal Antimonopoly Service Andrei Kashevarov. According to him, this step is necessary to ensure that the development of state-owned banks does not occur due to the absorption of competitors. In April, Kashevarov also said that the Central Bank and FAS are also discussing the introduction of a ban on the mention of information in the advertising of banking services on state participation in the capital of the bank.

Andrei Kostin, VTB President and Chairman of the Board, also criticized the proposal of the FAS and the Central Bank. According to him, both private and state banks should act in the same legal, economic, financial and regulatory field. "As you can not limit to anything private banks, you can not say - that's the state give it, and private - no. And it seems to me that this is not done, "he said then.

Sberbank holds a controlling stake in the Bank of Russia (CB), it owns 52.32% of the bank's ordinary shares. In the authorized capital of Sberbank, the share of the Central Bank is 50% plus one share, legal entities-non-residents - 45.6%, legal entities-residents - 1.5%, private investors - 2.9%.