Gref explained Sberbank’s interest in the offer to sell Turkish “daughter”

Gref explained Sberbank’s interest in the offer to sell
 Turkish “daughter”

According to Gref, Sberbank received “very favorable offers” about DenizBank, whose work on the highly competitive Turkish market is complicated by sanctions

Herman Gref (Photo: Oleg Yakovlev / RBC)

Sberbank is negotiating the sale of its Turkish DenizBank, confirmed the president and chairman of the board of Sberbank German Gref. Who exactly can become the new owner of the Turkish “daughter” of the Savings Bank, Gref did not say, noting, however, that the proposals were “very profitable”.

At the end of January 2018, negotiations began reported agency Bloomberg , calling the possible buyers Dubai Emirates NBD and banks of other states of the Persian Gulf.

The interest of Sberbank in the proposals for the sale of DenizBank Gref explained not only their “profitability”, but also the difficulties that the Turkish “bank has to face because of the sanctions imposed on the very Sberbank,” Gref told reporters, reports Interfax .

Gref announced plans to withdraw Sberbank from the markets of several European countries

“The Turkish market is very tight competition, and we, being under sanctions, to show a stable result is very difficult,” Gref said, noting in particular the difficulties with attracting liabilities. However, according to him, despite the difficulties, DenizBank still shows good results.

“We value the prospects of the Turkish market very positively, and in general we are very comfortable in the Turkish market,” Gref added.

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In September 2017 Gref in an interview with “Russia 24” divided the entire international business of Sberbank into two parts, referring to the first those areas that are “dynamically developing”, and to the second – of which Sberbank plans to withdraw. To the second group, Gref first of all referred to Ukraine, where Sberbank plans to sell both its subsidiaries (VS Bank and Sberbank Ukraine), noting that in the future Sberbank plans to reduce its presence in Europe.

“We are now optimizing our activities in Europe, we will come out of a number of countries,” Gref said at the time.

Speaking about the reasons for leaving, Gref said that after the EU imposed sanctions against Russia, it became “extremely difficult” to work in Europe.

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