Sberbank, the biggest bank in Russia, is facing down three so-called "black swan" events – unpredictable yet major occurrences which could change its business for good - according to its chief executive.
Herman Gref, chief executive of Sberbank, told CNBC: "We are being attacked by new businesses. We are being attacked by new regulations. We have to make newer and newer investments in technologies and this has to be done simultaneously. So we got not one Black Swan but three black Swans."
"The past year was an extremely tough year for both Russia and for the Russian banking sector…the next year, in our opinion, is going to be much better even if oil prices remain the same," he added.