huge debts of a number of companies and even individual states have long haunt investors across the world. Therefore the theme of global competition and the debt burden has been actively discussed by the business community. On Wednesday, on this occasion his opinion the head of Sberbank Herman Gref. He said that banks were not to blame for the fact that some companies before the crisis, were carried away by “gluttony,” and promised that the Savings Bank in due course “ask bashing” global banks.

On loans as food

In the pre-crisis times, many companies have gained great credit, but in a difficult time, not all were able to serve them. Stretched string of restructurings, bankruptcy cases, etc. Therefore, on deleveraging, that is, reducing the use of debt financing, as necessary, on Wednesday at the forum “Russia 2010″ say some experts, including Director of Alignment Investors, George Cooper. He noted that all the deleveraging will not happen, and that he held, “we need a healthy recession”.

Some while nodding toward the banks that issued these loans. But the head of Sberbank Herman Gref, recognizing the problem of high debt load, looks at the issue differently and do not believe that banks are to blame for the fact that the company gained too much debt. In his view, the controversy about the usefulness to leverage – it is the same, that the dispute about food. A huge number of people dying from obesity, and there is a desire to blame the food vendors, said Gref, and with loans and bankers the same thing. “But no food will not be the energy the body needs. Also there is no business without leverage,” – he said.

Banks issuing credit, guided by the fact that the borrower understands what makes. “Those who showed an excessive appetite, are now forced to sit on a long-term diet for 5-7 years to bring the figure in a normal market condition,” – said Gref.

Note that the example of such a company may an aluminum giant Rusal, which before the crisis, gained a lot of debt. Under contract with the creditors ‘Rusal’ put on a diet “of its shareholders – the company will not pay dividends for as long as the ratio of net debt to EBITDA not be 3.

Let bashing

Speaking of global competition, Gref admitted that although Sberbank and entered the top 15 largest banking brands in the world, a global player has not yet become. But in the coming years, building a customer-oriented model, he must move in this direction. “The most important thing – to focus on the client and his needs. This is a problem for us because we grew up in a different society,” – said Gref, adding that often focuses on the personal interests of everyone.

“Better than all said Huberman (poet Igor Guberman):” We are building a fortune all at once and we spit on everybody. “This is an excellent example neklientoorientirovannosti”, – said the head of Sberbank of Russia. He emphasized that the Sberbank of Russia can be better only when it is taken into account the interests of each client.

He set a goal of 2015 to become a high-tech service company that including providing banking services. “We’re not a bank, we are a high-tech service company that including providing banking services. This is the formula to which we want to go in 2015 and subsequent years”, – said Gref.

The head of Sberbank Russia believes that in the next 10 years, the banking sector would change drastically. “But I tell you responsibly that in the next 10 years, he (banking sector) will change drastically. We’re going through a phase of modernization, but the phase of innovation will be the next”, – said Gref.

According to Mr. . Gref, Sberbank of Russia will be released on world markets, and plans to take leading positions. “We will broadcast its services to world markets and become a global brand. Let bashing global competitors such as BNP Paribas, HSBC and others,” – he said. This statement was greeted with smiles on the podium Forum, where he was adviser to chairman of the Board of Directors of BNP Paribas, Jean Lemierre.

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