November 10, 2016, 17:31 / Finance

Gref: Privatization of Sberbank is an idea, not a plan

Sberbank President German Gref said that the proposals of the Ministry of Economic Development to include Sberbank in the privatization plan are more of an idea than a plan.

“I heard from you for the first time. This was not discussed with me,” Gref told reporters. - We are always ready for this, but it is unlikely to happen, because this is an issue that the president of the country must decide, for this the law must change. I think it's more of an idea than a plan."

Deputy Minister of Economic Development Evgeny Elin said on Thursday that his ministry proposes to include Sberbank in the privatization plan for 2017-2019. Deputy Finance Minister Alexey Moiseev said that the Ministry of Finance allows the privatization of a small stake in Sberbank without loss of control by the state.

The controlling stake in Sberbank is now owned by the Central Bank - the Bank of Russia owns 52.32% of the bank's ordinary shares (share in the authorized capital - 50% + 1 share).

At the beginning of the year, Minister of Economic Development Alexey Ulyukaev proposed returning to the discussion of the issue of privatization of the largest Russian state banks - Sberbank and VTB . But then Russian President Vladimir Putin, at a meeting with the head of the Central Bank Elvira Nabiullina and the head of the Ministry of Finance Anton Siluanov, said that the issue of privatizing Sberbank would not be considered in the medium term. The meeting participants came to a consensus that the loss of government control over the country's largest bank could undermine the confidence of depositors.

Previously on the topic: Privatization of a small stake in Sberbank without loss of state control is possible - Ministry of Finance