Support The Moscow Times!

Volksbank Deal Not Final

Sberbank plans to increase dividend payouts as a percentage of profit to 20-25 percent in several years from 15 percent in 2010, The Wall Street Journal quoted its chief executive, German Gref, as saying.

Gref also told the newspaper in an interview published Friday that there were "many unresolved questions" about Austrian bank Volksbank International — a possible acquisition target.

"I don't exclude that we could announce a deal this year, but I don't think we will close one," Gref was quoted as saying. Austria's Volksbanken put its 51 percent stake in international subsidiary Volksbank International and its sister leasing business up for sale in December. Sberbank is not currently at the stage of finalizing a deal with any international bank, Gref told the WSJ.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.