The CEO of Sberbank, German Gref does not expect any major changes in the share of nonperforming loans at the leading Russian lender in the next few years.
“I’d like to say that on a horizon of five years the relative level of NPL, or bad assets, will remain at about the same level. In different periods of time it will with the years increase slightly, then drop, but given the trends that we forecast we don’t see any dramatic development in the situation in the financial sector,” Gref said in an interview with television channel Rossiya 24.
He also said that Sberbank expects the Russian banking sector to grow much more slowly in the next five years than it did in the previous five years. It was reported earlier that Sberbank’s strategy for 2014-2018 projects that the growth of the banking system’s assets will slow to about 10 percent in 2018 from 13-15 percent in 2014.
