10 Nov 2022 11:50

Sberbank resuming financial disclosure, starting with statements for Oct

MOSCOW. Nov 10 (Interfax) - Sberbank is resuming disclosure of a portion of its financial information, beginning with statements for October, and will publish financial results every month, the CEO of Russia's largest lender, Herman Gref told reporters on the sidelines of the Finopolis forum.

"Beginning with financial statements for October and the first ten months of 2022, we are returning to regular disclosure of information and will publish results at the end of every month. We have about 2 million retail shareholders and their number is growing. It's important to us that investors have the ability to assess our business on its merits," Gref said.

Russian banks, following the recommendations of the Central Bank, stopped publishing financial statements in February-March 2022.

Financial market participants and the Central Bank have recently talked repeatedly about the need to resume disclosure of information, but without publishing sensitive information that carries the risks of sanctions.