PRIME-TASS. Sberbank of Russia is hopeful that it will manage to sell a majority of non-core assets it grabbed in 2010—2012, as Prime-TASS reported, Sberbank CEO and board chairman German Gref said.
According to him, “right now housing sales seem to be recovering, “although the lender won’t manage to sell all non-core assets by the end of the year”. It will be a good result “if the bank succeeds in selling all real estate assets by the end of 2011," he added.
In addition, Gref noted that Sberbank will have to develop some assets before their sale. “I hope that we’ll divest most non-core assets in 2011. Generally, it would be ideal if we managed to sell off all such assets by the end of 2011. But principally our goal is to find buyers for a majority of such assets in 2010—2012," the lender’s chief executive said.
