Herman Gref's contract as head of Sberbank will be extended for the next four years, sources told Frank Media. Gref has been the head of the bank since late 2007. Last time his powers were extended in May 2019, then it was done by the bank's shareholders, and the controlling stake belonged to the Bank of Russia. However, since then, control has passed to the Ministry of Finance, and the option to elect the president - to the Supervisory Board.