Russia-Turkey Thaw Impacts Russia's Sberbank Subsidiary Positively

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The restored relations between Russia and Turkey had a markedly positive impact on the Turkish subsidiary of Russia’s Sberbank, Denizbank, the CEO of the Russian bank Herman Gref said Wednesday.

Laleli mosque along the very busy shopping area of the Ordu road - Sputnik International
Turkish Business Has High Hopes for Restored Russian-Turkish Economic Relations
MOSCOW (Sputnik) – Moscow-Ankara relations improved since the downing of a Russian jet by Turkey last fall following an apology and a reconciliatory visit to St. Petersburg by Turkish President Recep Tayyip Erdogan this summer.

"Of course, it already had an impact. It is not a matter of profit, but the stability and sustainability of our work there… Any improvement of political relations certainly has a very positive impact on our business there. Everything has become much more relaxed now," Gref told reporters.

He forecast that if natural gas and nuclear projects serviced by Denizbank would resume, "it would have a direct impact on our financial performance."

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