Sberbank plans to raise funds in Asian markets in current year - Sberbank CEO Gref

ST.PETERSBURG, June 19. / TASS / Russia's Sberbank plans to raise funds in the Asian markets in the current year, Sberbank CEO German Gref told reporters at the St. Petersburg International Economic Forum on Friday. "We plan to raise funds. Of course, I cannot tell you neither the volume, nor the form," said Gref, while answering questions whether or not Sberbank plans to raise funds in the Asian markets in 2015. At the end of May, Tass reported that Sberbank is in negotiations with Middle Eastern investors to attract financing, "We are trying to attract financing from all over the world. We have signed several agreements with Chinese banks about a month ago. We are actively working with Middle Eastern investors, and first of all, it is to attract capital and liquidity," Gref said at the press conference after the annual general shareholders meeting. On May 27, Sberbank Deputy Chairman Alexander Morozov said that Asian capital markets are closed to Sberbank due to sanctions, as well as access to the western markets. "It is simply impossible due to sanctions. It is the same on the eastern markets, it is impossible because the sanctions are working around the world, it doesn’t matter, East or West. No company shareholder is going to come for the fear of sanctions from either Americans or the Europeans," Morozov said. Sberbank of Russia was hit by the EU and US sanctions in the summer of 2014. The imposed restrictions do not allow the bank to attract funding. Read more