Russian banks: safe and sound?
Anton Karamzin – Deputy CEO, Sberbank
The European debt crisis has shrunk revenues and forced banks to cut jobs and beg for bailouts. Russian banks are weathering the storm, but economists say they will have to tighten their belts, too.Moody’s is downgrading the Russian banking sector, and the ruble is losing value. Amid all this trouble, Russia’s biggest bank Sberbank is celebrating its anniversary, saying it is going to become a transnational company. Isn't this fiddling while Rome is burning? And how is Sberbank going to grow while others are struggling to survive?
We are asking the bank’s deputy CEO Anton Karamzin.