DGAP-News: Sberbank: German Gref: 'I See No Option but the Dollar in the Nearest Future'

(firmenpresse) - EquityStory.RS, LLC-News: Sberbank / Key word(s):
Miscellaneous/Miscellaneous
Sberbank: German Gref: 'I See No Option but the Dollar in the Nearest
Future'

02.05.2011 / 05:00

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German Gref: 'I See No Option but the Dollar in the Nearest Future'

April 29, 2011, Moscow - German Gref, President and Chairman of the Board
of Sberbank of Russia, assessed the prospects awaiting the dollar and the
ruble and outlined investor advantages of Sberbank during his US visit.

'I see no option but the dollar in the nearest future', Sberbank Head
stated. 'Alternatives to the dollar will emerge in the mid- and long-term
perspective, but this is going to be a long period'.

German Gref noted that the ruble had got stronger by 15-17% over the past
year: 'The ruble is expected to grow by another 10%. Taking into account
the situation on the raw material markets, the ruble is a very steady
currency. Ruble assets are underestimated and this is a good investment
object. Nevertheless, I would refrain from calling the ruble a currency of
great international significance providing an alternative to the dollar so
far'.

Sberbank Head outlined the main investor advantages of Sberbank: 'We have
made enormous efforts to change the bank's image over the last three years.
Nowadays Sberbank is the most transparent company in Russia. At the moment
we are building up one of the most effective risk management systems
worldwide. We long to create an ultimately modern bank with the most
advanced technologies. Sberbank invests over 1 billion dollars into the
Data Processing Center and cooperates with the major companies such as IBM,
HP and Cisco.'

The share of Sberbank at the Russian deposit market equals to 48%. These
are the funds owned by 70 million people, i.e. by a half of the population


of Russia, German Gref reminded. 'This makes us responsible for every step
we make', Sberbank President emphasized.

German Gref revealed Sberbank's international expansion plans: 'Our bank is
too large to operate within a single country. Going international is one of
our main goals. We have defined our targets: they are India, China and
Eastern Europe. We are closely following all the assets sold at these
markets'.

Sberbank is not considering investment into Western Europe right now: 'We
are not a 'first aid squad'. Our aim is not to provide assistance, but to
earn money. Therefore, we see no particular interest in investing into
Western Europe so far'.

# # #

OAO Sberbank of Russia
Public Relations
Tel. +7(495) 957 5721
media@sberbank.ru


End of Corporate News

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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russland
Phone: +7-495-957-57-21
E-mail:media@sberbank.ru
Internet: www.sberbank.ru
Listed: Foreign Exchange(s) MICEX, RTS


End of News EquityStory.RS, LLC News-Service
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Bereitgestellt von Benutzer: EquityStory
Datum: 02.05.2011 - 05:00 Uhr
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News-ID 396570
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