Russia's top lender Sberbank will begin giving loans to start-up companies and venture businesses in two years, the bank's head German Gref said on Monday.
"Currently, we do not credit startups and venture projects, but we will try to start offering this service in the next two years," Gref told Prime Minister Vladimir Putin.
Gref reiterated that by the end of the year Sberbank would start providing mortgage loans within two days and corporate loans for up to 150 million rubles ($5 million) within six days.
Sberbank also plans to cut the time it takes to provide loans to corporate clients. Simple loans will require up to nine days, while complex ones will need up to 15 days.
NOVO-OGARYOVO, Russia, February 14 (RIA Novosti)
