MAP threatened Sberbank

The Ministry of Antimonopoly Policy may consider initiating a case on abuses by Sberbank of its dominant position in the market. According to "Kommersant", this statement was made by the head of the ministry Ilya Yuzhanov.

MAP promises to start proceedings on this case if Sberbank does not agree with the recommendations of the Supervisory Board to reduce deposit rates.

The Russian government has already instructed its representatives on the Supervisory Board of Sberbank to raise this issue at the December meeting. According to the Ministry of Antimonopoly Policy, the tariffs charged by Sberbank from the population in a number of regions for transferring deposits to other credit institutions exceed the level of tariffs of most commercial banks by 2-2.5 times. In a number of subjects, this tariff is 4% of the amount of funds transferred. This is what gives MAP grounds to accuse Sberbank of abusing its dominant position and infringing on the rights of citizens, as well as negatively influencing the development of competition.

The position of the antimonopoly department is supported by the Ministry of Finance and the Ministry of Economic Development.