Sberbank says Russia risks zero growth if capital ouflows continue

MOSCOW, March 24 Mon Mar 24, 2014 10:02am EDT

MOSCOW, March 24 (Reuters) - The CEO of Russia's largest bank Sberbank said on Monday that the country is at risk of recession and if capital outflows increase to $100 billion, growth will likely hit zero.

German Gref, however, said that Sberbank is not reviewing its business plan in the light of the risk of recession. Gref cited figures showing capital outflow was $35 billion in the first two months of this year. (Reporting by Oksana Kobzeva; Writing by Megan Davies; Editing by Maria Kiselyova)

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