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Sberbank

Sberbank and VTB line up for OFZ bonds to bolster Russian budget

Sberbank and VTB line up for OFZ bonds to bolster Russian budget

  • "We are ready to buy," Sberbank CEO German Gref said of the OFZ bonds the finance ministry plans to use this year to raise the rouble equivalent of $1 billion a week.
  • "We and VTB will easily cover their needs," Gref said, adding that the 2021 state borrowing plan did not look huge.
Updated 16 Feb, 2021 09:56pm
Sberbank sees no need for fresh provisions on past loans, bets on stronger 2021 results
Business & Finance

Sberbank sees no need for fresh provisions on past loans, bets on stronger 2021 results

  • Sberbank set aside 541 billion roubles ($7.4 billion) in provisions for non-performing loans last year when the COVID-19 pandemic hit the Russian economy and some of its clients.
  • He added that Sberbank, which made a net profit of 781.6 billion roubles in 2020 under Russian accounting standards, will stick to its plan to channel at least 50% of net profit to dividend payments.
Published 16 Feb, 2021 07:41pm
Cyber crime has cost Russia $49bn in 2020, Sberbank says
World

Cyber crime has cost Russia $49bn in 2020, Sberbank says

  • Russia has encouraged its citizens to switch to bank cards and limit cash use to try to crack down on the shadow economy.
  • The private sector is the most vulnerable: everything from the clients' accounts to financial data and tender documents are targeted.
Published 28 Dec, 2020 06:15pm