Support The Moscow Times!

Sberbank May Review Long-Term Plans Due to Market Trouble

Russia's top bank Sberbank may review its five-year strategy due to the current market situation, chief executive German Gref told reporters, but later said he thought the bank's five-year goals were achievable.

"There are divergences [from the strategy] for cost of risk, net profit," Gref told reporters after a meeting of the bank's supervisory board.

"By the end of the first half of 2015 we will return to the strategy and possibly revise it given the situation on the market," he said.

Gref also said he thought the chances of a crisis situation happening were "high," without elaborating.

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.