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== Criiticism ==
=== Not returning of citizen's deposits ===
"Sberbank of Russia" is an assignee of labor saving banks of former [[USSR]],<ref>[http://www.bibliotekar.ru/finansovoe-pravo-3/39.htm § 3. Правовое регулирование сберегательного дела. Виды вкладов]. Грачева Е. Ю., Соколова Э. Д. Финансовое право: Учебное пособие. — 2-е изд., испр. и доп. — М.: Юриспруденция, 2000. — 304 с. {{ref-ru}}. ISBN 5-8401-0042-0.</ref> all assets of which belonged to the state. In process of liberalization of prices in the beginig of 1990's the state and Sberbank, in fact, refused assuring citizen's deposits,<ref>[http://www.ecsocman.edu.ru/data/233/234/1217/010_sycheva.pdf Обнищание «народных масс» России]. В. С. Сычёва. Социологические исследования. 1994. — № 3. — С. 66-69. Автор — канд. социол. наук, ст. н. с. {{ref-ru}}. Institute of Sociology of [[Russian Academy of Sciences|RAS]].</ref> which resulted in their landslide depreciation, which, in it's turn, induced dramatic discontent of population.<ref>[http://bd.fom.ru/report/map/d070822/printable/ Банковские вклады, «сгоревшие» в 1992 году] {{ref-ru}}. Lyudmila Presnyakova. Fund «Общественное мнение». 22.02.2007.</ref> Since 1996 patrial compensation of losses of depositors is carried out.<ref>[http://lenta.ru/news/2008/04/16/sber/_Printed.htm Сбербанк России начал выплачивать компенсации по советским вкладам] {{ref-ru}}. [[Lenta.ru]]. 16.04.2008.</ref>

=== Low level of service ===
In 2000's "Sberbank of Russia" was repeatedly blamed for low level of service and lots of inconveniences in the bank's departments.<ref>[http://www.reglament.net/bank/retail/2006_3_article_print.htm Как достичь конкурентных преимуществ на рынке платежей]. В. В. Насочевский. Методический журнал «Банковский ритейл». № 3/2006. {{ref-ru}}</ref><ref>{{cite web|author=Андрей Юданов.|date=23.04.2007|url=http://www.expert.ru/printissues/expert/2007/16/genii_nacionalnogo_biznesa/|title=Гении национального бизнеса|publisher=[[Expert (magazine)|Expert]]|accessdate=2010-08-14|archiveurl=http://www.webcitation.org/65Jmc6PSt|archivedate=2012-02-09}} {{ref-ru}}</ref><ref>[http://www.arhpress.ru/konkur/2005/1/21/5-p.shtml В Коношском Сбербанке — волокита и некомпетентность]. I. Izyumov. Konoshski kuryer. 21.01.05 (6-7) {{ref-ru}}</ref><ref>[http://www.kommersant.ru/doc/702116 «В погоне за длинным гудком»]. Yelena Kovalyova. Kommersant Dengi. {{ref-ru}}. № 35(591), 04.09.2006.</ref><ref>[http://www.kreml.org/opinions/114309706 Очереди в Сбербанк остаются огромными]. Sergey Oznobischev. Kreml.org. {{ref-ru}}. 31.03.2006.</ref><ref>[http://www.arhpress.ru/avangard/2004/10/30/7-p.shtml Кому выгодна очередь?] N. Kabashova. Avangard. {{ref-ru}}. 30.10.2004 (86).</ref>

{{ref-ru}}
{{ref-uk}}

=== Accusation of funding for terrorism in Ukraine ===
17 April 2014 [[General Prosecutor of Ukraine|General Prosecutor of Ukraine]] [[Oleh Makhnitskyi]] informed of [[criminal proceedings]] concerning "Sberbank of Russia" on suspition in funding of [[2014 pro-Russian unrest in Ukraine|actions, which took place in the East and South of Ukraine]].<ref>[http://www.ukrinform.ua/eng/news/sberbank_of_russia_suspected_of_financing_separatists___pgo_320330 Sberbank of Russia suspected of financing separatists - PGO]. [[Ukrinform]]. 17.04.2014</ref> It was also announced in the pressroom of [[Security Service of Ukraine]] that 45 million [[Ukrainian hryvnia|UAH]] in cash were transfered in March-April 2014 by Sberbank for funding for [[terrorism]] in the territory of Ukraine.<ref name="UNIAN_18.04.2014">[http://kiev.unian.ua/909574-sberbank-rosiji-oblili-chervonoyu-farboyu-pislya-zvinuvachen-u-finansuvanni-teroristiv.html Сбербанк Росії облили червоною фарбою після звинувачень у фінансуванні терористів] {{ref-uk}}. [[UNIAN]]. 18.04.2014</ref> The [[press service]] of the bank denied any involvement in the financing of terrorists on the territory of Ukraine.<ref>[http://ua.112.ua/ekonomika/sberbank-rosiyi-sprostovuye-svoyu-uchast-u-finansuvanni-separatistiv-na-pivdennomu-shodi-ukrayini-50960.html «Сбербанк Росії» спростовує свою участь у фінансуванні сепаратистів на південному сході України] {{ref-uk}}. 112 Ukraine. 17.04.2014</ref>


== See also ==
== See also ==

Revision as of 16:30, 14 November 2014

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

Sberbank
Сбербанк
Company typePublic (OAO)
MCX: SBER
IndustryBanking, Financial Services
Founded1841 (de jure 1991)
HeadquartersMoscow, Russia
Key people
Sergey Ignatev, (Chairman)
German Gref, (CEO)
Productsconsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards
RevenueIncrease US$ 30.5 billion (2012)
2,909,100,000,000 Russian ruble (2023) Edit this on Wikidata
Increase US$ 11.4 billion (2012)
Total assetsIncrease US$ 486.4 billion (2013)
OwnerCentral Bank of Russia 51% Listed 49%
Number of employees
286,019
SubsidiariesTroika Dialog
Denizbank
Websitewww.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 shareholder-owned bank headquartered 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]

History

Volksbank International acquisition

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.[5]

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. [6]

Denizbank acquisition

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

File:Bank cards (Visa and MasterCard).jpg
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

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

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

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

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), pl [KUKE] (Poland), COFACE (France), fi [Finnvera] (Finland), EGAP (Czech), EKN (Sweden), ERG (Switzerland), NEXI (Japan) and Japan Bank for International Cooperation.

Subsidiaries

Sberbank Rossii's office in Atyrau, Kazakhstan

Criiticism

Not returning of citizen's deposits

"Sberbank of Russia" is an assignee of labor saving banks of former USSR,[12] all assets of which belonged to the state. In process of liberalization of prices in the beginig of 1990's the state and Sberbank, in fact, refused assuring citizen's deposits,[13] which resulted in their landslide depreciation, which, in it's turn, induced dramatic discontent of population.[14] Since 1996 patrial compensation of losses of depositors is carried out.[15]

Low level of service

In 2000's "Sberbank of Russia" was repeatedly blamed for low level of service and lots of inconveniences in the bank's departments.[16][17][18][19][20][21]

Template:Ref-ru Template:Ref-uk

Accusation of funding for terrorism in Ukraine

17 April 2014 General Prosecutor of Ukraine Oleh Makhnitskyi informed of criminal proceedings concerning "Sberbank of Russia" on suspition in funding of actions, which took place in the East and South of Ukraine.[22] It was also announced in the pressroom of Security Service of Ukraine that 45 million UAH in cash were transfered in March-April 2014 by Sberbank for funding for terrorism in the territory of Ukraine.[23] The press service of the bank denied any involvement in the financing of terrorists on the territory of Ukraine.[24]

See also

References

  1. ^ The Lex Column (17 September 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. 30 June 2014. Retrieved 11 October 2014.
  3. ^ a b c d "Sberbank of Russia - About Sberbank". Sbrf.ru. 1 November 2013. Retrieved 21 March 2014.
  4. ^ "Sberbank of Russia". Sberbank.ru. Retrieved 21 March 2014.
  5. ^ "Sberbank completes Volksbank buy". Russian Times. 9 September 2011. Retrieved 21 March 2014.
  6. ^ Arshad Mohammed; Bill Trott (12 September 2014). "U.S. steps up sanctions on Russia over Ukraine". Reuters. Retrieved 12 September 2014.
  7. ^ Kramer, Andrew (8 June 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 (10 December 2009). "Сбербанк открыл ячейку в Белоруссии". gazeta.ru. Retrieved 11 December 2009.
    • Sberbank Rossii (Kazakhstan) (former Texakabank)
    • Sberbank Rossii (Ukraine) (former NRB)
  12. ^ § 3. Правовое регулирование сберегательного дела. Виды вкладов. Грачева Е. Ю., Соколова Э. Д. Финансовое право: Учебное пособие. — 2-е изд., испр. и доп. — М.: Юриспруденция, 2000. — 304 с. Template:Ref-ru. ISBN 5-8401-0042-0.
  13. ^ Обнищание «народных масс» России. В. С. Сычёва. Социологические исследования. 1994. — № 3. — С. 66-69. Автор — канд. социол. наук, ст. н. с. Template:Ref-ru. Institute of Sociology of RAS.
  14. ^ Банковские вклады, «сгоревшие» в 1992 году Template:Ref-ru. Lyudmila Presnyakova. Fund «Общественное мнение». 22.02.2007.
  15. ^ Сбербанк России начал выплачивать компенсации по советским вкладам Template:Ref-ru. Lenta.ru. 16.04.2008.
  16. ^ Как достичь конкурентных преимуществ на рынке платежей. В. В. Насочевский. Методический журнал «Банковский ритейл». № 3/2006. Template:Ref-ru
  17. ^ Андрей Юданов. (23.04.2007). "Гении национального бизнеса". Expert. Archived from the original on 2012-02-09. Retrieved 2010-08-14. {{cite web}}: Check date values in: |date= (help) Template:Ref-ru
  18. ^ В Коношском Сбербанке — волокита и некомпетентность. I. Izyumov. Konoshski kuryer. 21.01.05 (6-7) Template:Ref-ru
  19. ^ «В погоне за длинным гудком». Yelena Kovalyova. Kommersant Dengi. Template:Ref-ru. № 35(591), 04.09.2006.
  20. ^ Очереди в Сбербанк остаются огромными. Sergey Oznobischev. Kreml.org. Template:Ref-ru. 31.03.2006.
  21. ^ Кому выгодна очередь? N. Kabashova. Avangard. Template:Ref-ru. 30.10.2004 (86).
  22. ^ Sberbank of Russia suspected of financing separatists - PGO. Ukrinform. 17.04.2014
  23. ^ Сбербанк Росії облили червоною фарбою після звинувачень у фінансуванні терористів Template:Ref-uk. UNIAN. 18.04.2014
  24. ^ «Сбербанк Росії» спростовує свою участь у фінансуванні сепаратистів на південному сході України Template:Ref-uk. 112 Ukraine. 17.04.2014
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