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Sberbank denies reports of top managers' mass departure

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MOSCOW, December 26 (RIA Novosti) - A spokesman for Russia's largest bank, Sberbank, denied reports on Wednesday of a mass resignation of the bank's top managers.

Some media said about 30 top managers had left the state-controlled bank following the resignation of the Sberbank head and his first deputy, Andrei Kazmin and Alla Aleshkina.

"We have no such information," the spokesman said, adding that Alexander Zakharov, a deputy chairman mentioned as being among the resigned managers, was on a business trip with the new head of the bank, German Gref, in Kazakhstan.

Kazmin led the state-controlled bank from 1996, steering its development into a leading commercial bank operating on market principles.

On November 28, Sberbank shareholders elected former economics minister German Gref as chief executive officer to replace Kazmin, who was appointed head of the Russian postal service. Gref had lost his ministerial post in a government reshuffle in late September.

Sberbank is now the largest bank in Eastern Europe, with assets totaling over 3.5 trillion rubles ($141 billion), or more than 25% of Russia's overall banking assets.

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