February 14, 2008 |
| Sberbank's net profit under RAS is estimated at RUB 130bn (approx. USD 5.27bn) in 2008, the bank's CEO and Chairman of the Board German Gref told journalists today. He pointed out that that his forecast was very pessimistic, as the final figure would depend on the market conditions.|
Gref also noted that one of the primary goals of Sberbank's management was to cut expenditures considerably, adding that the goal was incorporated in the bank's development strategy that was being drafted. An increase in expenditures is estimated to reach 20 percent in 2008 compared to 30 percent a year earlier.
|Full company name||Sberbank of Russia|
|Country of risk||Russia|
|Country of registration||Russia|