Worst Yet to Come for Russian Banks, Sberbank CEO Gref Says
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OAO Sberbank Chief Executive Officer Herman Gref said the worst is yet to come for Russia’s banking industry still reeling from last year’s collapse of the ruble and the economic slump.
Russia’s banking sector has not yet surpassed “the peak of its problems,” Gref, who runs the country’s largest lender, told reporters in Moscow on Friday. “They are still ahead.”