Sberbank Sold $1 Billion Risky Assets, Gref Tells Russia Today

OAO Sberbank sold about 50 percent of holdings acquired during the financial crisis, Herman Gref, chairman of Russia’s biggest lender, told Russia Today.

The sale was for more than $1 billion, Gref told the state- owned television channel, according to an e-mail from the channel.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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