Sberbank CEO Gref Says Lender Doesn’t Need Additional Capital
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OAO Sberbank, Russia’s biggest lender, doesn’t need more capital through 2016, Chief Executive Officer Herman Gref said.
Sberbank, which reported a 7.8 percent drop in profit in the first 10 months of the year as the conflict in Ukraine and the ruble’s slide hurt business, has not ruled out government help, he said. The Finance Ministry has said it may bolster the capital of state-owned VTB Group and Russian Agricultural Bank.