Sberbank sees trend liquidity tightening, at least until autumn - Gref
MOSCOW. June 6 (Interfax) - Russia's Sberbank is seeing a trend towards an increase in shortage of liquidity, and this will continue at least until fall, Sberbank CEO German Gref said at the bank's annual shareholders meeting on Friday.
Asked about the rates dynamic for depositors and borrowers this year, he said: "There is a very tough liquidity deficit on the market now, and we are seeing an upward trend. I don't yet see a decreasing trend," he said, adding that a decrease would not be seen before autumn.
He said the liquidity shortage would push market rates up. "Nearly all banks have already started to put their lending rates up, and I think this will be followed by movement in liability-related transactions," he said.
Gref said in the first half of April that there was a serious liquidity shortage, and aired his forecast for growth in lending and deposit rates. The bank did not rule out the possibility of rates going up.
