September 7, 2017 / 2:39 AM / a year ago

Russia's Sberbank CEO says situation in banking sector is stable

VLADIVOSTOK, Russia, Sept 7 (Reuters) - The situation in the Russian banking sector is stable, German Gref, head of the country’s biggest bank Sberbank, told reporters on Thursday.

The Russian central bank last week decided to take over Otkritie, Russia’s top private lender, after it faced massive liquidity outflows. Gref said Sberbank has decided to reopen limits on Otkritie this week.

“I consider the situation as stable and what has happened to Otkritie, in my opinion, is a good sign from the point of view of using a new (central bank) tool so that no one would be hurt,” Gref said. (Reporting by Oksana Kobzeva; Editing by Chris Gallagher)

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