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Sberbank simulates economic development with the dollar worth 100 rubles

Sberbank did a stress test with the oil price at $20 per barrel and the dollar exchange rate at 100 rubles for one dollar, Chairman Herman Gref said, quoted by RBC.

The present crisis appears more serious than expected, with the economy hit by plummeting oil prices and the coronavirus, Herman Gref said. So Sberbank decided to consider various scenarios, including a “very stressful” one.

Even in the worst-case scenario, the country’s largest bank does not seem to be facing any major problems: its profitability will remain stable and losses acceptable. Sberbank could not develop a more stressful scenario for the Russian economy, he added.

Herman Gref, who previously served as Minister of Economic Development, sounded generally optimistic when he predicted the wave of panic would subside in the few coming weeks.

Doing stress tests is actually a regular practice at Sberbank: in 2016, the company tested a scenario with $25 per barrel, and the simulation did not show any particular problems for the market leader either.

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