Sberbank Shares to Be Transferred to NWF

Sberbank shares are transferred to the National Wealth Fund (NWF). Its income from the bank’s dividends will be significantly higher than from other investments of the fund, reports RIA News with reference to the head of Sberbank Herman Gref. 

“It is very important that we are transferred to the NWF. Investors saw the long-term interests of the National Wealth Fund. And, of course, everyone appreciates that long-term interests in the development of the company will be supported,” said Gref.

It is also stated, that earlier the Bank of Russia and the Ministry of Finance announced that a draft law had been developed on the Central Bank withdrawing from Sberbank’s capital and sending it to the government. It is planned that the Cabinet will buy a controlling stake in the bank at market value at the expense of the NWF.

Ru-Main, 13.02.2020

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