What is Sberbank?
Founded in 1841, Sberbank is the largest and the oldest banking and financial organisation in Russia. It describes itself as “the circulatory system of the Russian economy”, accounting for one third of its banking system. Around 60% of the Russian population uses Sberbank’s products and services on a regular basis. They range from traditional types of loans and deposits to money transfers, debit and credit card issuing, brokerage and bank insurance services.
Sberbank has one of the largest networks of ATMs and self-service terminals in the world, with over 90,000 terminals. But as well as its extensive physical presence across Russia, Sberbank has also established a well-used system of remote service channels. This includes Sberbank Online, with over 30 million active users; the smartphone app Sberbank Online, with over 18 million active users; and the SMS service Mobile Bank, with over 30 million active users.
The Central Bank of the Russian Federation is the principal shareholder and founder of Sberbank of Russia, with just over 50% of the share capital.
Who are the key people at Sberbank?
Herman Gref, an ethnic German, has been Chief Executive Officer and Chairman of the Executive Board of Sberbank of Russia since 2007. He was formerly Russia’s Minister of Economics and Trade for seven years in the early and mid-2000s, when he won a reputation as a liberal reformer.
What is the modern history of Sberbank?
Sberbank traces its roots all the way back to 1841, when the Russian banking sector first began to develop. It has existed in its modern form since 1991, when the Savings Bank of the RSFSR was reorganised into the Joint-Stock Commercial Savings Bank of the Russian Federation (Sberbank of Russia). The bank grew in the new millennium – in 2011, Sberbank acquired Volksbank International AG; and in June 2012 it bought the Turkish DenizBank.
What are the latest developments at Sberbank?
In 2017, Sberbank adopted its Strategy 2020. This is focused on initiatives that will “push Sberbank to the next level” and enable it to compete with global tech companies, while remaining a compelling offering for retail customers and businesses.
Sberbank reported an impressive 38% rise in full-year net profits in 2017. Sberbank said it granted 13.5 trillion roubles in loans in 2017 – some 27% more than in 2016.Net interest income rose 7.7% to 1.2 trillion roubles.
The Sberbank share price has made substantial gains in recent years, rising from 55 roubles in January 2015 to 100 roubles in November 2015 and 200 roubles in November 2017. At the start of April 2018 the shares were trading at around 250 roubles. To find out how the shares are doing right now, follow Capital.com. Our SBER chart puts all the information at your fingertips.
Where does Sberbank operate?
Headquartered in Moscow, Sberbank has 14 territorial banks and over 16,000 branches across all 83 constituent entities of the Russian Federation. In recent years, it has also expanded its international presence. As well as in CIS countries (Kazakhstan, Ukraine and Belarus), Sberbank is present across Central and Eastern Europe and in Turkey.Sberbank also has offices in Germany and China, a branch office in India, and operates Sberbank Switzerland AG.
Where is Sberbank traded?
The Sberbank of Russia share price (SBER) is set and traded on the Moscow Stock Exchange (MCX). Check out Capital.com for the latest SBER chart. We’ll keep you up to date and in the picture.