30/9/2014 17:50
RIA Novosti

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Sberbank Sale Shows Russian Bank Potential - Putin

19:49 19/09/2012
PAVLODAR, September 19 (RIA Novosti)
Tags: Russian Central Bank, Sberbank, Igor Shuvalov, Vladimir Putin, Russia

Russian President Vladimir Putin on Wednesday praised the just completed privatization sale of shares in the nation's biggest bank, Sberbank, which netted $5.208 billion for the state.

“This is one of the most profitable deals in the past ten years,” Putin said in Pavlodar at a Russian-Kazakh forum on cooperation.

Sberbank placed 7.58 percent of shares in a secondary public offering that wrapped up on Tuesday.

“For every $100 invested in Sberbank 10 years ago, its majority shareholder, the Central Bank of Russia, earned $3,700,” he said.

“That’s a very good yield,” Putin said, adding: “It indicates that our banks have great potential.”

First Deputy Prime Minister Igor Shuvalov echoed the president’s words, saying it was a “mega-deal conducted at just the right time from the standpoint of the investment climate, investor confidence in the Russian market.”

“We anticipate several major, serious deals before year-end. I hope we will bring them off, but everything depends on the market and investor sentiment,” Shuvalov said.

 

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RIA NovostiVladimir PutinSberbank Sale Shows Russian Bank Potential - Putin

19:49 19/09/2012 Russian President Vladimir Putin on Wednesday praised the just completed privatization sale of shares in the nation's biggest bank, Sberbank, which netted $5.208 billion for the state.>>

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