the Ministry of Finance and the CBR has developed a draft law on the redemption of shares of the regulator in the “savings Bank” by NWF
Akishin Vyacheslav / Moscow-Live.ru
the Ministry of Finance of the Russian Federation and the Bank of Russia has developed and submitted to the government a draft law on the Bank of the capital of “Sberbank”, involving the purchase of a package of the regulator at the expense of the national welfare Fund (NWF) by market value, reports “Interfax” with reference to the Ministry’s website.
Later Finance Minister Anton Siluanov told reporters that we are talking about liquid funds of the NWF in excess of the 7% threshold. The bill provides for the issuing by the Bank of Russia the offer to minority shareholders in the sale of the first part of the package.
on the Basis of quotations on “Moscow exchange”, the current market value of the package of the Central Bank in Sberbank – about 2.8 trillion rubles. It is about a third of the amount of the NWF at the beginning of February (of 7.84 trillion).
the Ministry of Finance noted that “Sberbank” is the largest financial institution in Russia, including the provision of financial services to the population, it is advisable to maintain a meaningful state participation in its capital.
the Expected dividend yield of its shares by the end of 2019 will significantly exceed the cost of borrowing on the OFZ market, the report said, thus the use of NWF for the shares conform to the objectives of management of the Fund.
the Central Bank owns 50% + 1 of the Charter capital of Sberbank (52.3% of ordinary shares). Talk about the possible transfer of this share to the state (as in 2002, the Russian Federation was transferred to exchange for Federal loan bonds the Bank of Russia in the other state Bank – VTB ) was a long time ago, but to the practical level they did not reach, and all the key figures over the years, the idea of somehow criticized (Sergei Ignatyev, German Gref, Igor Shuvalov, etc.).
once again, the topic returned to the agenda in October 2019, when the issue during a meeting of the state Duma Committee on financial market raised its head Anatoly Aksakov. Soon, Deputy Finance Minister Alexei Moiseyev said that the practical solution to the issue of transfer of shares of securities in the savings Bank to the government yet.
the head of the Bank of Russia Elvira Nabiullina in interview to Agency said that the Central Bank is discussing the transfer of shares of the savings Bank to the state. “It is about the sale,” she said.
the Minister of Finance Anton Siluanov also confirmed to reporters that the possibility of redemption by the government of the Russian Federation the Bank of Russia of its share in Sberbank discussed, is not yet public.
At the end of 2019, Reuters reported citing sources that the deal to buy shares of Sberbank from the Central Bank plans to use the funds for NWF. In the end this money will return to the state: the Central Bank will record a profit (because the market price of the shares of “Sberbank” is much higher than that at which they are recorded on the balance sheet of the Bank of Russia), and it will raise to the budget, explains the interlocutor of the Agency.