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. Last Updated: 07/27/2016

Foreign Sberbank Stake

Foreigners hold up to a 15 percent stake in state-owned savings bank Sberbank, Prime-Tass quoted Sberbank president Andrei Kazmin as saying Wednesday.

Kazmin told a seminar on state involvement in banking that 43 percent of the bank’s shares are in private hands and that the shares were trading at only a sixth to a tenth of their real value.

This limited the bank’s investment possibilities, he said.

Kazmin said Sberbank has 211 billion rubles ($7.6 billion) in loans.