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03 July 2020, 21:20

Lukashenko meets with Sberbank of Russia CEO

The Palace of Independence. An archive photo
The Palace of Independence. An archive photo

MINSK, 3 July (BelTA) – Belarus President Aleksandr Lukashenko has met with President, Chairman of the Executive Board of PAO Sberbank Herman Gref, BelTA has learned.

PAO Sberbank of Russia is a leading global financial institution. These days it is also a major technological company of the Russian Federation. Sberbank accounts for about one third of the assets of the Russian banking industry. The bank is a key moneylender to the Russian economy with the largest share on the deposit market.

Sberbank Group's overseas chain includes subsidiary banks, branches, and representative offices in 17 countries across the globe. Apart from the CIS states Sberbank is represented in Central and Eastern Europe. The bank has representative offices in Germany and China, a branch in India.

In Belarus the Russian bank is represented by OAO BPS-Sberbank. PAO Sberbank owns 98.43% of the Belarusian bank's stock. BPS-Sberbank is a top 5 bank in Belarus in terms of the size of its assets. Its net profit totaled Br107.2 million in 2019 in line with the national financial reporting standards, with the return on capital at 15.8%.

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