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Gref emphasized that he does not share the pessimistic view of those predicting economic stagnation, citing the potential for continued growth in the Russian economy. While acknowledging the possibility of global economic challenges and their potential impact on Russia, Gref remains optimistic about the country's economic trajectory, stating that it has the necessary potential for sustained growth.
8.1.8 Sberbank news 8.1.8 Bank news
Kostin said VTB would see a profit of 400 billion roubles ($4.9 billion) in 2023 after a bumper first five months of the year and a record loss last year.
Banks of several friendly countries showed interest in opening branches in Russia, Governor of the Bank of Russia Elvira Nabiullina said on June 15. "Representatives of some countries showed interest. I can't name the countries. But if they are willing, we will support legislation that will allow such branches to be created," she said, adding that the several friendly countries could open banking branches.
PPF Group, an international investment and financial group founded in 1991 by Czech businessman Petr Kellner, lost hundreds of millions of euros due to withdrawal from the Russian market after February 24, 2022. CEO Jiri Smeits said this to reporters on Friday, commenting on the results of PPF Group's activities in 2022. "If it weren’t for the [financial] losses associated with the [group’s] departure from Russia, which were in the amount of hundreds ofmns of euros, we would have received more profit than before the [beginning] of the [pandemic] covid period," he said.
Elcart, the national payment card of Kyrgyzstan, may be launched in Russia in the coming year, Kyrgyzstan's Minister of Economy and Commerce Daniyar Amangeldiev said on the sidelines of the St. Petersburg International Economic Forum (SPIEF). "We are working on this very closely now," the minister said. "About a year, only harmonization is left, everything else is already set up," he noted, adding that Elcart and Russia’s Mir card "will be harmonized through a closed channel," Amangeldiev added.
116 RUSSIA Country Report July 2023 www.intellinews.com