DGAP-News: German Gref: –Paper Newspapers Will Soon Disappear–

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German Gref: –Paper Newspapers Will Soon Disappear–

03.05.2011 / 09:48

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German Gref: –Paper Newspapers Will Soon Disappear–

April 29, 2011, Moscow – During his US visit, German Gref, President and
Chairman of the Board of Sberbank of Russia, stated that modern challenges
lie in the field of quick adaptation to new technologies: –Paper newspapers
will soon disappear. The same applies to banking. Banks will be destroyed
by their conservative approach if they are not transformed right now. If
you came to Sberbank to get a consumer loan three years ago, you would be
provided with it in 14 days and 11 people would take part in the process.
Now it is cut down to 2 hours and 3 people–.

Sberbank Head also provided his assessment of the pre-election situation in
Russia: –The parliamentary election is coming up in the fall and the
presidential election in spring. This causes some uncertainty and may pose
a problem for new investors. It is no burden for us, as those eager to work
do work and it is those looking for an excuse not to work that evade it–.

According to Sberbank President, Russia needs serious reforms: –We need a
judicial, pension, healthcare, an education reform, i.e. reforms of all
institutions. Serious business climate improvements and further
privatization are also required. The state should limit its presence in the
economy as an asset owner and significantly improve its activities in the
economic regulation sphere at the same time–.

# # #
OAO Sberbank of Russia
Public Relations
Tel. +7(495) 957 5721
media@sberbank.ru

End of Corporate News

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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russland
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
Listed: Foreign Exchange(s) MICEX, RTS

End of News EquityStory.RS, LLC News-Service
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