January 28, 2010 / 8:37 AM / 10 years ago

Davos-Sberbank chief calls for state to sell stake

DAVOS, Switzerland, Jan 28 (Reuters) - Russia should privatise state-controlled banks and should start with Sberbank SBER03.MM, for which it could get an attractive price, the chief executive of the country’s biggest lender said on Thursday.

“We need to privatise state banks and let’s start with Sberbank,” Sberbank CEO German Gref said at the World Economic Forum in Davos.

“The very high capitalisation of Sberbank allows the sale of the stake on attractive terms,” he added.

It was not immediately clear whether he was referring to the entire state stake or a portion of the stake. (Reporting by Gleb Bryanski; Writing by Toni Vorobyova)

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