Herman Gref: Sberbank should be fully privatized

The government has no discussions about that topic as of now. 
Sberbank President German Gref called for its complete privatization in an interview with German newspaper Handelsblatt. "25% of the central bank would keep the host during the transition period. But in principle, there is no evidence against the full privatization of the Savings Bank. Private shareholders in our case - a large investment funds. From the point of view of the development of banking, they can better control the management of the company ", - the newspaper quoted Gref. Now the Central Bank 52.3% of the voting shares of Sberbank.

"Strategically, we are for the gradual privatization of banks under state control," - said the representative of the Central Bank. "Out of the Savings Bank of the owner, as the Bank of Russia, must take place very gradually, so as not to have a negative impact on the credibility of the largest banks in the country", - he said.

"The privatization of the Savings Bank is not discussed," - "Vedomosti" said on Monday, Deputy Finance Minister Alexei Moiseev. Opinion Gref right: the state should not own commercial organizations, says one official financial ekonomichesth block. This long-term goal for 10 years, he adds: "Now make it unrealistic, official documents and discussions on this subject there is."

Savings Bank - it is absolutely a market player, reducing the government's stake will not lead to changes in the business and customers, says UBS analyst Michael helmets. In his words, institutional investors are even more demanding than the state. "Reducing the state's share in the banking sector should be the long-term trend aimed at increasing the quality of corporate governance. The speed of this process depends primarily on the ability of banks to raise capital both in foreign and domestic markets ", - he says.

At the end of 2014, Sberbank has reduced the dividend payments to 20% of net profit under IFRS and 3.5% (45 kopecks per share.): All the bank paid 10 billion rubles. against 72 billion rubles. a year earlier. Gref, speaking at the annual shareholders' meeting in May, a decrease of dividends substantiated by the fact that the Savings Bank does not intend to radically "climb into the pocket of the state" and erode the share of shareholders. According to him, next year the bankozhet return to the normal level of dividends to 20% of net profit.

privatization trend is present in all industries, including finance, around the world, says the director of the Corporate Governance Deloitte Oleg Shvyrkov. According to him, the OECD recommends owning state property through organizations not affiliated with the regulation or social policy.

Central Bank has already cut back its stake in Sberbank in the framework of the privatization program in September 2012 .: regulator has sold 7.6% of Sberbank's shares for $ 5.2 billion. However, in mid-2013 the President of the Central Bank Elvira Nabiullina said that the Central Bank does not want to cut stake in Sberbank, not only in the next 2-3 years (until the end of 2016), but in the longer term. "Plans of the Central Bank is not" - she declared at a cabinet meeting devoted to the privatization, which discussed the possibility of reducing the share of the Central Bank since 2016 Then Gref agreed with the position of the Central Bank. Savings Bank is a system, it puts more responsibility in making such decisions, said a member of the Committee for Cooperation with the minorityktsionerami Sberbank Dmitry removed.

On Monday, 23 November, the ordinary shares of State Bank rose 2.4% to 18.50 MSK cost 109.9 rubles., September quotes have increased by 46%.