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. Last Updated: 07/27/2016

Sberbank to Lower Rates

Sberbank will lower interest rates on loans and deposits within a month and a half, chief executive German Gref said Tuesday.

Sberbank’s rates on ruble loans may fall below 8 percent by the end of the year, Gref said, adding that Sberbank’s retail loans grew in March.

He also said the lender’s net income would likely rise as much as threefold by 2014.

(Bloomberg)