Print
Print 2020-03-23
Sberbank sticks to fat dividend promise despite global sell offs
Russia's biggest bank Sberbank said on Tuesday its board recommended a dividend payment of 50% of its net profit, sticking to an earlier commitment to pay generous dividends despite global sell offs caused by the coronavirus outbreak.
Russia's biggest bank Sberbank said on Tuesday its board recommended a dividend payment of 50% of its net profit, sticking to an earlier commitment to pay generous dividends despite global sell offs caused by the coronavirus outbreak.
Chief Executive Officer German Gref told reporters that a fall in oil prices and coronavirus outbreaks worldwide that have created volatility on global markets did not represent a significant problem for the state-owned bank.
Sberbank had the capacity to draw 3 trillion roubles ($40 billion) in liquidity from different sources to counter the financial impact of volatile markets on its business, he said.
Comments
Comments are closed.