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. Last Updated: 07/27/2016

Gref: No Bank Buy Planned

Sberbank CEO German Gref said Tuesday that the lender “isn’t planning” to buy a bank in Ukraine, just hours after another official at the bank said it was considering such a move.

“We are interested in acquisition targets in the top 10. … The aim is to become one of the top five [banks in Ukraine] in three to five years, but organic growth is too slow,” said Dmitry Tarasov, director of strategic planning at Sberbank. Tarasov said the bank was looking at all possibilities, including Aval. Tarasov told reporters that Sberbank would only be interested in taking a controlling stake in any bank.

(Bloomberg, Reuters)