Gref said that Sberbank won’t be private

© RIA Novosti / Alexei Codecoverage in fotoreceptor of the Board of Sberbank of Russia German Gref. Archival photoGref said that Sberbank won’t be private© RIA Novosti / Alexei Codiscovered the image Bank

The controlling stake in Sberbank should not be the state, but in practice, the savings Bank is a long time to be private, said the head of Bank Herman Gref, answering questions of shareholders at the annual meeting.

«I think that the Bank will not be private, at least for now this is not the question. Our control package assigned to the Central Bank by law without changing the law to make it impossible, and yet decided not to change the law,» said Gref.

«I really advocate that a controlling stake was not in the hands of the state, it seems to me that the biggest guarantee long-term sustainability and reliability of a company is its market to the independent shareholders to hold management for financial results, and it is the most sustainable scheme,» — said the head of Sberbank.

«While this is not the question, and to predict any time frame, especially at 100% on private savings it was not…. Care of the Central Bank of control today on the agenda is not necessary», — he added.

Gref also said that the dividends to the shareholders of the savings Bank will grow. «There is no question that the Bank will pay meager dividends. While profitability increases, and with it will grow dividends,» — said a top Manager.

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