CEO: Sberbank not to convert foreign currency deposits into rubles

MOSCOW, Sep 18 (PRIME) -- Russia’s biggest lender Sberbank does not consider conversion of foreign-currency deposits into rubles in case of sanctions, CEO German Gref told reporters on Tuesday.

“There is no need in this kind of steps and we have not considered and are not considering them in any, even the most terrifying scenarios,” Gref said, adding that Sberbank does not see a surge in demand for U.S. dollar deposit conversion.

Gref also said that mortgage rates in Russia can fall to 7–8% in two to three years, as inflation will return to 4%.

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