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Monday, August 21, 2017

Herman Gref attends "Global Financial Outlook" session in Davos

Sberbank CEO Herman Gref took part in the recent "Global Financial Outlook" session at the World Economic Forum in Switzerland on Wednesday.

Participants' discussions included the impact of continued soft monetary policy, the effects of tightening and harmonizing financial regulation, and long-term and alternative investment opportunities.

During the discussion, Gref said that Europe has the most difficult banking regulation.

"In the face of the uncertainty currently affecting the markets, we should have oversight that is flexible and not overregulated...uncertainty is a new reality, and we must learn to live by its laws," Gref said.

Gref also announced Sberbank's business breakfast, which will be held in Davos on Jan. 24. The topic of the breakfast is "State institutions or a strong government: what is more important for economic growth?"

Sberbank is the largest bank in Russia and Eastern Europe, and the third largest in Europe. The bank offers a full range of savings, investment and lending services.