Source Pravda.Ru

Gov't to retain its stakes in Vneshtorgbank and Sberbank

The government will retain its stakes in Vneshtorgbank and Sberbank, Yury Zubarev, the head of the Finance Ministry's department for relations with government and non-government organizations, told RBC commenting on the strategy of development of the banking sector in 2003-2007, which had been worked out and submitted to the government by the Finance Ministry. According to the document, the state will preserve its participation in two universal banks Vneshtorgbank and Sberbank, and four bank-agents Vneshekonombank, Roseximbank, Russian Bank for Development and Rosselkhozbank (Russian Agricultural Bank). At the same time it is expected that the government's stake in Vneshtorgbank will be decreased to 50 percent in the next 2-3 years.

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