OREANDA-NEWS. January 09, 2007. Sberbank of Russia intends to expand its presence in Kazakhstan, announced German Gref, the bank’s Chairman and CEO, reported the Official website http://en.government.kz.

“We have discussed prospects of cooperation with regard to maintenance of the Kazakhstan’s banking sector stable development, and planned expansion of Sberbank in Kazakhstan”, G. Gref said when commenting on his meeting with the nation’s Prime Minister Karim Massimov.

He pointed out that Sberbank of Russia is among the 20 largest banks of the world. “We have entered the Kazakh market with serious intentions and for a long time”, G. Gref said. He also informed that the Kazakhstan-based daughter bank’s capitalization stands at USD 250 million.