Jan 9, 2022
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German Gref advised Russians not to keep money on accounts or cards

The high level of inflation in Russia is a reason to think about preserving and even increasing one’s savings, says German Gref, Chairman of the Board of Sberbank.

He expressed confidence that at the moment it is better not to keep money in accounts or bank cards, since the country is experiencing a high level of inflation. It is best to invest them in purchasing securities.

According to the head of Sberbank, at the moment the most profitable is investing in the purchase of federal loan bonds. Their value always rises in line with the rise in prices of basic commodities. The OFZ does not have a very high coupon, but it grows from the nominal, taking into account inflation, Primpress quoted him as saying.

Gref also advised investing in floaters – securities tied to the rate of the interbank market. Their value is growing much faster than deposit rates.

Tightening of monetary policy by leading financial regulators may lead to default of some states and companies, Gref noted earlier.

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