25 Aug 2016 19:31

Sberbank gradually resolving excess liquidity problem - Morozov

MOSCOW. Aug 25 (Interfax) - Sberbank of Russia is gradually resolving its excess liquidity problem, Deputy CEO Alexander Morozov said during a conference call on Thursday.

"Our liquidity is indeed more than sufficient for conducting normal business. However, in conditions of uncertainty, this is not the most unwelcome problem. It is gradually being resolved," he said.

The excess liquidity is due to the deposits received from corporate entities and individuals; Sberbank has already "seriously lowered" interest rates on deposits, he said.

"There is a surplus of funds that have come in. It is being successfully placed in deposits on Western markets," Morozov said when asked about sterilization by the bank of excess forex liquidity.