Russia’s punctuality with creditors enhances its reputation – Sberbank CEO
rt.com, Published time: 25 Dec, 2015 11:10
Herman Oskarovich Gref (Russian: Герман Оскарович Греф, born February 8, 1964)
Russia is demonstrating its reliability and strengthening its good reputation with foreign creditors as it punctually fulfills all the obligations despite Western sanctions, said Herman Gref, the head of Russia’s largest bank Sberbank.
“They [foreign creditors – Ed.] are impressed that despite all the sanctions Russia continues to punctually fulfill all of its obligations,” Gref told Rossiya 24 TV channel.
He added that all the Russian companies under Western sanctions are paying their debts, although they could formally request restructuring by the creditors on the basis of the restrictions imposed on them.
“I think this will work for our reputation in the long-term,” said the Sberbank CEO.
Gref also said that on the contrary Ukraine has permanently damaged its reputation by declaring a moratorium on the $3 billion Russian debt payment. (…)
This laurel wreath for the liberal member of the Russian Rabid Liberal League is part of Russian MSM propaganda painting in gold all Putin cronies. The truth is more mundane. He’s also member of V-th and VI-th column in Russia. Pay attention how Mr Putin reacted to the news He Is Not What He Is Named (89.9%), when He was promptly set in within the mob of other minions of V-th and VI-th column. But first another bay leaf.
Herman Gref has served since 2007 as the Chief Executive Officer and Chairman of the Executive Board of Sberbank of Russia, one of the largest commercial banks in Russia. From 2000 to 2007, Mr. Gref was the Minister for Economic Development of the Russian Federation. He previously served in a number of government positions at the federal and regional levels in Russia. Mr. Gref received a degree in law from Omsk State University in 1990, a Ph.D. in law from St. Petersburg State University in 1993 and has a Ph.D. in economics. Mr. Gref holds a Citation and Certificate of Honor from the President of the Russian Federation, the Order for Distinguished Service of Grade IV and the Stolypin Medal.
The Russian Central Bank owns 52.32% of Sberbank shares. But this is the unaccountable and ridiculously arrogant Nabiullina. Gref is also a member of the Council of JP Morgan Chase, apparently – RB
Herman Gref: “Sberbank will never enter in the Crimea until it is Ukrainian”
Argument-sn.ru, Aug 1 2015
In an interview on German radio station WDR 5 with Udo Prenzel, head of Media Training at the Deutsche Welle Akademie, the head of Russian Sberbank Herman Gref said that his bank does not intend entering the Crimean Peninsula, despite the latter being within the Russian Federation. Replying to the question from WDR, whether the Russian Sberbank would open its branches in the Russian Crimea, Herman Gref said:
A: Absolutely not. The Crimea is part of the territory of Ukraine, from the point of view of the international financial community, and we adhere to that position. In simple terms, for Sberbank, the Crimea is not Russia.
Q: How can we understand your position on Crimea, when you have branches of the bank in South Ossetia and Abkhazia? Because from the point of view of the West, these territories are Georgian.
A: That’s a slightly different situation. I would not like to comment on it.
Q: Well, then… Sberbank has plans to open offices on the Peninsula in the future?
A: Currently, we have no such plans.
Q: So, from your point of view, or rather from the point of view of Russia, the decision of Sberbank can be attributed to the imposition of sanctions against the people of Crimea for their choice in favor of the Russian Federation? I’m sure you will agree, it looks pretty strange to see a Russian Bank involved in sanctions against Russian citizens, don’t you think?
A: On this subject, we could have a long discussion. I would not want to take up your time and my own with it.
Q: Well… Thank you for the interview, and all the best.
Sberbank refused to work in the Crimea
Lenta.ru, Jul 28 2015
Sberbank will not work in the Crimea and Sevastopol. During the annual shareholders’ meeting, the head of the credit institution, Herman Gref, informed the correspondent of Lenta.ru. “This is intolerable from the point of view of sanctions. We will not work in these areas,” said Gref. The annual meeting of shareholders of the bank took place on May 29. On the agenda were two issues: the extension of the powers of Gref and the payment of dividends to shareholders. The shareholders decided to leave Herman Gref as President of Sberbank until Nov 2019. In addition, the dividend was set at 45 cents per share, 7% less than last year. During the meeting, Gref noted that 2014 was a very difficult year for the bank. Under the sanctions are Sberbank, VTB, Gazprombank, Vnesheconombank, Russian Agricultural Bank and Bank of Moscow. Credit agencies are unable to raise funds on the Western financial markets. Crimea became part of Russia in Mar 2014. This decision was supported in a referendum about 96% of Crimea’s residents who participated in the voting. Then sanctions were imposed against Russia under which were included the banking sector.
Vladimir Putin: “Crimea is ours, and not ours?”
Optimist, Aug 1 2015
Vladimir Putin at a meeting with the head of Sberbank German Gref, in discussing the situation in the banking sector asked the question:
How did it happen that the bank participates in the sanctions against the Crimea, Russian citizens?
To the question of the President of Russia, the head of Sberbank Herman Gref said that in the case of entering the bank on the Peninsula, Sberbank will lose lending in the West and therefore suffer some losses. Putin continued:
So if tomorrow the West will impose sanctions against the Urals, Siberia and the Far East of Russia, Sberbank will no longer service these areas?
The reply of Herman Gref, the radio station “Russian News service” does not report.
At the St Petersburg economic forum, Sberbank hosted a business breakfast, which was addressed by its head, Herman Gref. At the breakfast, a heated debate broke out, during which Gref expressed his concerns about the fact that the power might be in the hands of citizens, and then launched into a discussion about the Kabbalah, Taoism and Buddhism, writes business-gazeta.ru. Gref expressed concerns on the fact that as soon as people will understand the basis of their own existence, “it will become extremely hard to manage them, manipulate them.” As it turned out, the era of pervasive Internet, too, scares the head of “Sberbank”, who said:
You say terrible things! Do you propose to transfer power, in fact, into the hands of the population? How to live, how to manage such a society? Where all have equal access to information, all have the opportunity to judge directly, to get the uncut information, not filtered through the government analysts, political scientists, and a huge car lowered on the heads of the media? In such a society to live? Your ways of thinking are frightening to me, to be honest.
During his speech, Herman Gref offered some historical and religious insights, remembering first the history of Buddhism, and then proceeded to Confucius, who he said started out as a Democrat and ended with the establishment of the doctrine of the separation of society into castes. Taoists, Gref continued, kept their teachings secret for centuries, because they realized that if they would give people the knowledge of who they are and what they need, to manipulate them will be hard. Finally, Kabbalah for many years remained a secret teaching, as the authorities did not want to remove the veil from the eyes of the people and to make them self-sufficient. It’s remarkable that our poor Russian-speaking economic elite have such a mess in their heads.