Siluanov is confident that the change in the leading shareholders of Sberbank will not affect the fulfillment of obligations by the credit institution
Anton Siluanov, Russian Finance Minister, assured the economic community that the change in the leading shareholder of Sberbank will not affect the government’s guarantees on citizens’ deposits, Forbes reports.
At the moment, the Central Bank owns a 50% stake and 1 share of Sberbank, the price of which is approximately 2.8 trillion rubles. After the announcement of the documents’ sale at the Moscow Exchange, the cost of the credit institution’s securities increased by 2%. Closer to the finish of the trading day, one share of Sberbank was worth 257.82 rubles, and capitalization amounted to 5.84 trillion rubles.
The sale of the share of Sberbank, which is owned by the regulator, was reported in Reuters. Sources of the publication said that the likelihood of a sale has increased in recent months because the Central Bank has become not only the bank’s regulator, but also its shareholder, which negatively affects the reputation of both. The discussion began at a meeting with former Prime Minister Dmitry Medvedev. It is also known that the stock of shares will be sold at market value using funds from the National Wealth Fund.