Interfax cited Mr Andrei Akimov lender chief executive as saying that Gazprom might return to the issue of selling its stake in Gazprombank in two or three years.

He said that "It will be possible to talk about this in two-three years. Furthermore, now is not the most favourable time to sell shares in the bank.”

Mr Akimov said "Now is not the best time. Why sell? The bank earns well. If subordinated loans will be converted into equity, then stake will decrease a little from 41% to 30% preliminarily."

Gazprom has repeatedly said it plans to reduce its stake in GPB to a blocking interest. The gas giant now owns 41.73% of the bank.

(Sourced from www.interfax)