Geopolitical factors have practically fully eliminated an ability of Russia's largest bank Sberbank to expand business at overseas markets, Sberbank CEO Herman Gref said.
MOSCOW (Pakistan Point News / Sputnik - 31st August, 2018) Geopolitical factors have practically fully eliminated an ability of Russia's largest bank Sberbank to expand business at overseas markets, Sberbank CEO Herman Gref said.
"Of course, previously we were focused on external expansion, today geopolitics completely closed this opportunity for us. Previously we were invited, including at the markets of developed countries, but today we are being gradually replaced from there," Gref told Rossiya 24 broadcaster in an interview.
According to Gref, instead of external expansion, the bank will focus on companies that develop an ecosystem inside the country.
Earlier, Gref said, speaking at the annual meeting of shareholders of Sberbank, that international expansion for the bank is now impossible, and thus the bank has decided to optimize its international network.
