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Opinions & Interviews

27 Jun 2018

Russian Sberbank to step up operation in Belarus

Russian Sberbank to step up operation in Belarus

MINSK, 27 June (BelTA) – PAO Sberbank intends to invest more in Belarus. Sberbank President, Chairman of the Board German Gref made the relevant statement after meeting with Belarus President Alexander Lukashenko on 27 June, BelTA has learned.

German Gref said: “During today’s meeting we discussed a broad range of matters. It just happened that we talked over a lot of topics. The development of our bank in Belarus was one of them. We’ve agreed we will increase the volume of our investments in Belarus. So far we’ve invested over $4 billion. But we are now changing the management of our bank [BPS-Sberbank in Belarus]. A new head of the bank will start working soon.”

“We’ve agreed to step up export lending for shipments from Belarus to Russia. We’ve agreed to virtually double the volume of purchases of Russian products by Belarusian companies using trade incentives involving the governments in Belarus and Russia. We will raise the limits on funding available to mechanical engineering and power engineering companies – it is a respectable sum – and to extracting industry companies,” said the Sberbank president.

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