Sberbank will create optimal provisions in its credit portfolio for Ukraine before the end of 2015, Sberbank President and CEO German Gref said answering questions during Investors' Day in London on Thursday.

"Before the end of the year we will make the optimal amount of provisions for Ukraine," he said.

Next year the bank may not need to create new provisions for Ukraine, he said. "More provisions will not be needed," the head of the bank said.

In the spring of 2015, Sberbank deputy head Alexander Morozov said that Sberbank's provisions for the Ukrainian portfolio in total amounted to about 50% of the portfolio's volume.