April 9, 2018 / 4:02 PM / 10 days ago

Russia's Sberbank says exposure to firms hit by new U.S. sanctions is insignificant

MOSCOW (Reuters) - The exposure of top Russian lender Sberbank (SBER.MM) to companies hit by a fresh round of U.S. sanctions is less than 2.5 percent of the bank’s total assets, Sberbank Chief Financial Officer Alexander Morozov told Reuters on Monday.

FILE PHOTO - The logo of Russia's lender Sberbank is seen at the trading floor of its headquarters in Moscow, Russia January 30, 2018. REUTERS/Tatyana Makeyeva

Morozov said the loans were collateralized, including by assets not covered by the sanctions announced on Friday.

    “The bank’s management is carefully following the situation and taking all necessary steps to limit possible negative consequences for the bank,” Morozov said.

    Reporting by Tatiana Voronova; Writing by Katya Golubkova; Editing by Jack Stubbs

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below