Sberbank of Russia

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Coordinates: 55°41′55.69″N 37°34′45.54″E / 55.6988028°N 37.5793167°E / 55.6988028; 37.5793167

Sberbank
Сбербанк
Type Public (OAO)
Traded as MCXSBER
Industry Banking, Financial Services
Founded 1841 (de jure 1991)
Headquarters Moscow, Russia
Key people Sergey Ignatev, (Chairman)
German Gref, (CEO)
Products consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards
Revenue Increase US$ 30.5 billion (2012)
Net income Increase US$ 11.4 billion (2012)
Total assets Increase US$ 486.4 billion (2013)
Owners Central Bank of Russia 51% Listed 49%
Employees 286,019
Subsidiaries Troika Dialog
Website www.sbrf.ru
Not to be confused with Sberbank of the USSR.
For other uses, see Sberbank (disambiguation).

Sberbank Rossii (Russian: Сбербанк России, a contraction of "сберегательный банк" - sberegatelʹnyĭ bank; English: "Savings bank of Russia") is a government-owned bank headquarterd in Moscow. As of 2012 it was the largest bank in Russia and Eastern Europe, and the third largest in Europe.[1] In July 2014 Sberbank was ranked 33rd in the world and first in central and eastern Europe in The Banker's Top 1000 World Banks ranking.[2] The company's history goes back to Cancrin's financial reform of 1841.[3] The bank's motto is: "Always by your side" (Russian всегда рядом (vsegda ryadom)).[4] After Russia's annexation of Crimea in March 2014 the Obama administration imposed sanctions, and to which the US Department of Treasury added new prohibitions in September 2014, coinciding with EU sanctions. [5]

History[edit]

Volksbank International acquisition[edit]

Russian President Putin visits a Moscow branch of Sberbank, November 2001

In 2011, Sberbank acquired Volksbank International AG from its shareholders Österreichische Volksbanken AG, BPCE, DZ Bank and WGZ Bank. The deal included all VBI assets - banks in Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Ukraine, Serbia and Bosnia and Herzegovina, except for Volksbank Romania. The agreed price was €585 to €645 million, depending on VBI business performance in 2011. VBI’s total assets excluding Romania was €9.4 billion in June 2011.[6]

Denizbank acquisition[edit]

In June 2012 Sberbank bought the Turkish DenizBank for Turkish Lira6,469 million (about EUR 2,821 million or US$3.504 billion) from the lender Dexia, which in 2011 was "partly nationalized by the governments of France, Belgium and Luxembourg".[7] The deal included DenizBank subsidiaries in Turkey, Austria and Russia. [8]

Ownership[edit]

Bank cards (Visa and MasterCard) with private information removed

The majority shareholder of Sberbank has been the Central Bank of the Russian Federation, also known as The Bank of Russia, owning 50%+1 voting share of Sberbank's voting shares with the rest of the shares dispersed among portfolio, private and other investors with an estimated shareholding of about 20% by foreigners.[3]

Russia's central bank cannot sell its stake without a change in Russia's laws.[citation needed]

Management[edit]

The Chairman of the Board and Chief Executive Officer (CEO) is German Gref, confirmed by the Board of Directors on 16 October 2007.

Key statistics[edit]

As of 2013 the bank had about 19,000 branches with 250,000 employees.[3] As of November 2013 it accounted for 28.6% of aggregate banking assets, calling itself "the circulatory system of the Russian economy","key lender to the Russian economy and the biggest receiver of deposits".[3]

Largest financing projects[edit]

In 2004, the Sberbank's largest ten borrowers received RUB 297 billion in 2004. Known projects include:

  • GT TEZ Energo (construction of gas turbine electric power plants)
  • Sevmorneftegaz, a Gazprom subsidiary owning licenses for the Shtokman field and to develop the Prirazlomnoye oil field
  • Sayanskhimplast to improve chlorine and caustic soda production facilities
  • The "Svyazinvest's 2004 investment programme"
  • Ilyushin Finance Co. to lease three aircraft
  • Delta Telecom for its St. Petersburg cell network
  • Sukhoi's Su-35 project for long-term production funding[9]
  • Khmelnytskyi, Ukraine nuclear power plant funding to finish blocks 2&3 until 2016.

As of January 1, 2014, the largest borrowers received RUB 4.6 trillion; Sberbank has not specified the projects.[10]

Export Credit Agencies relationships[edit]

Sberbank signed cooperation agreements with several Export Credit Agencies (ECAs) in 2004 including Eximbank USA, Eximbank Hungary and the Israel Foreign Trade Risks Insurance Corporation. Sberbank has also cooperated with OeKB, ECGD, Euler Hermes, SACE, CESCE, EDC (Canada), Atradius (Netherlands), KUKE (pl) (Poland), COFACE (France), Finnvera (fi) (Finland), EGAP (Czech), EKN (Sweden), ERG (Switzerland), NEXI (Japan) and Japan Bank for International Cooperation.

Subsidiaries[edit]

Sberbank Rossii's office in Atyrau, Kazakhstan

See also[edit]

References[edit]

  1. ^ The Lex Column (September 17, 2012). "Sberbank – the consumer’s choice". Financial Times. Retrieved 23 September 2012. 
  2. ^ "Top 1000 World Banks – Sales bring changes in CEE but Russia still rules". The Banker. June 30, 2014. Retrieved 11 October 2014. 
  3. ^ a b c d "Sberbank of Russia - About Sberbank". Sbrf.ru. 2013-11-01. Retrieved 2014-03-21. 
  4. ^ "Sberbank of Russia". Sberbank.ru. Retrieved 2014-03-21. 
  5. ^ Arshad Mohammed; Bill Trott (12 September 2014). "U.S. steps up sanctions on Russia over Ukraine". Reuters. Retrieved 12 September 2014. 
  6. ^ "Sberbank completes Volksbank buy". Russian Times. 2011-09-09. Retrieved 2014-03-21. 
  7. ^ Kramer, Andrew (June 8, 2012). "Sberbank of Russia to Buy DenizBank for $3.5 Billion". NYT (New York Times). Retrieved 12 September 2014. 
  8. ^ Sberbank Announces Agreement to Acquire 99.85% of DenizBank[dead link]
  9. ^ "Sukhoi’s Su-35S program to be funded by Sberbank". Defence Aviation. 20 September 2010. Retrieved 21 September 2010. 
  10. ^ "Management report: Corporate and investment business". Sberbank. Retrieved 12 September 2014. 
  11. ^ Klimentev, Gleb (2009-12-10). "Сбербанк открыл ячейку в Белоруссии". gazeta.ru. Retrieved 2009-12-11. 
    • Sberbank Rossii (Kazakhstan) (former Texakabank)
    • Sberbank Rossii (Ukraine) (former NRB)

External links[edit]