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Volksbank Deal Not Final

By The Moscow Times

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.

(Reuters)

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