28.01.10 13:40 ;
 

President, Chairman of the Board, Sberbank Herman Gref today at the World Economic Forum in Davos, spoke in favor of reducing the state”s share in the capital of Russian banks. “Let”s start with the Savings Bank”, - he suggested. The head of the bank also noted that the decline in the share capital of the state in the credit organization would receive $ 40-50 billion to reduce the budget deficit of the country. He believes that the state is enough to keep the bank share of 25% plus 1 share.

Vice Premier, Finance Minister Alexei Kudrin spoke against the sale in the near future of the state shares “Sberbank”. He said it was too early to sell government stake in the leading banks of the country, “but we will do it.” “The market has not recovered after the crisis, itis too early” - he said. However, according to Kudrin, VTB will be privatized before “Sberbank”. “Since Sberbank will follow a more conservative plan, including because of the Savings Bank account of citizens and a substantial package of the bank is already in private hands,” - said the head of the Ministry of Finance.

in capital VTB state owns 85.5%, in the capital of “Sberbank” 57,6% controlled central Bank.

Today

tendering shares of the banking sector looks a bit better obscherynochnoy dynamics. This paper VTB added 3.33 to 13.30%, Sberbank - 2,36%. The MICEX index rising by 2,3%.

According to the plan of privatization of federal property at 2010 - 2012 years, the government approved in December 2009, this year in Russia will be privatized 449 joint-stock companies, including one - in the oil and gas sector, the two - a number of metallurgical enterprises, 22 financial organizations, 12 joint stock companies in the field of fuel and energy complex, 14 - in the field of defense industry. VTB and Sberbank “among these companies there.

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Expert Opinion
  
    Mark Rubinstein, the deputy head of the analytical department of IFC “Metropol”.
   
    

Statement Herman Gref, made today in Davos, is absolutely correct. However, it is surprising that such statements emanate from Gref, who always tries to speak more neutrally. Sale of state shares in Sberbank very positive impact on the stock market of Russia, on the paper “Savings Bank” and the business of the bank itself. If the movement in this direction at least to start, then the positive in all these three areas has already been partially realized.

Privatization - now one of the key methods for reducing the state budget deficit, which at the official level, recognized as such. We do not know about specific plans for the state in this direction, but we know the overall strategy of a new round of privatization. The proposal Gref fit and in line with government strategy.

What Gref voiced these ideas publicly, indicates that such a scenario around the “Savings Bank” has been debated for quite a serious level of government.

   
  
    Natalia Orlova, chief analyst at Alfa Bank.
   
    

«Sberbank may sell part of state-owned shares are not in order to reduce the budget deficit, but in order to finance it. A shareholder of Sberbank is the Central Bank. Strictly speaking, if after the Central Bank will transfer these funds in the budget, then they really will go to finance the deficit, but it will be revenue of the Central Bank.

In addition, we must not forget that we have a budget deficit financed from the contingency fund. It still has the money. This year, the need to sell assets in order to replenish funding for the deficit, no.

yet we should not forget that Russia could go to the debt markets to raise funds to finance the budget.

I honestly feel that this comment, Herman Gref on the “Savings Bank” has started because of the economic forum in Davos on Russia rather little to say. Probably the only thing that Russia can offer to investors in terms of itb8as strategy, it is possible privatization. I do not feel that this kind of an urgent problem and that Russia has a clear plan for how it is implemented in the near future.

   
  

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