Sberbank of Russia Financials and Market Position

Sberbank of Russia is the largest bank in the country, with a significant presence in the financial market. It was founded in 1841 and has a rich history of over 180 years.

The bank offers a wide range of financial services, including retail banking, corporate banking, and investment banking. Sberbank has a vast network of branches and ATMs across Russia, making it easily accessible to customers.

Sberbank has a strong market position, with a significant share of the Russian banking market.

Sberbank of Russia has a rich history that spans several decades. In 1991, the operations of the State Labor Savings Banks System of the USSR in the Russian Soviet Federative Socialist Republic were reorganised into the Joint-Stock Commercial Savings Bank of the Russian Federation (Sberbank of Russia).

The bank has undergone significant changes and expansions since its inception. In 2011, Sberbank acquired Volksbank International AG from its shareholders Österreichische Volksbanken AG, BPCE, DZ Bank and WGZ Bank, acquiring banks in several Eastern European countries.

Sberbank's international presence has grown significantly since 2007, when Herman Gref, a former economy minister, took the helm. Since then, the bank has expanded its operations and made strategic acquisitions.

One notable acquisition was the purchase of DenizBank in 2012 for Turkish lira 6,469 billion (about EUR 2,821 billion or US$3.504 billion). This deal included DenizBank subsidiaries in Turkey, Austria, and Russia.

Sberbank's growth and expansion have been remarkable, with the bank becoming the largest universal bank in Russia despite growing competition.

Sberbank of Russia is owned by the Russian National Wealth Fund, managed by the Government of Russia, which holds a 50%+1 voting share of Sberbank's voting shares. The rest of the shares are dispersed among various investors.

The president and chief executive officer of Sberbank is Herman Gref, who has been in this position since 2007. He was confirmed by the board of directors on October 16th of that year.

Sberbank has expanded its international operations significantly under the leadership of Sergei Gorkov, who joined the bank in 2008 and became the head of international operations in 2010.

The majority shareholder of Sberbank is the Russian National Wealth Fund managed by the Government of Russia, owning 50%+1 voting share of Sberbank's voting shares.

Sberbank's ownership structure is quite unique, with the rest of the shares dispersed among various investors.

The Russian National Wealth Fund's stake in Sberbank is substantial, making it a significant player in the bank's decision-making process.

According to the law, Russia's central bank cannot sell its stake in Sberbank without a change in Russia's laws.

The president and chief executive officer of Sberbank is Herman Gref, confirmed by the board of directors on 16 October 2007. He's been leading the bank since then.

Sergei Gorkov joined Sberbank in November 2008 and played a crucial role in expanding the bank's international operations. He became the head of international operations and senior vice chairman of the board from 10 October 2010.

Under Gorkov's leadership, Sberbank expanded its operations from two foreign countries to over twenty. This significant expansion took place between 2006 and 2016.

Svetlana Alekseyevna Sagaydak became the new Senior Vice Chairman of the Board after Sergei Gorkov's departure in 2016. She took over the role.

The chairman of the supervisory board of Sberbank is Anton Siluanov, who has been in the position since April 2021. He's also the Minister of Finance of Russia.

Sberbank of Russia has a vast network of operations, with over 16,500 offices across 22 countries.

The bank employs over 250,000 employees, who cater to its massive customer base of over 137 million retail clients and 1.1 million corporate clients.

Sberbank's presence is felt throughout Russia, with its regional divisions (territorial banks) covering various regions of the country. Here's a breakdown of its regional divisions:

In 2020, Sberbank embarked on a rebranding journey that aimed to transform it into an "ecosystem". This new direction involved changing the logo and legalizing the reduction "Sber".

The bank's goal was to become "more than a bank" and develop various digital services. These services included online cinema (Okko), music (SberSound), food delivery (SberMarket), cloud storage (SberDisk), and taxi (Citymobil).

Initially, the "ecosystem" was built in partnership with the Mail.ru Group, which led to the creation of a joint venture called O2O (online-to-offline) Holding. This venture had a capital of about 100 billion rubles.

However, due to disagreements over management methods and corporate culture, the parties decided to end their cooperation in the spring of 2021.

Sberbank has also expanded its ecosystem by launching an online pharmacy service called Sber Eapteka. This service allows customers to purchase medications online.

In the early 1990s, the state and Sberbank effectively abandoned guarantees to secure citizens' deposits, causing a sharp dissatisfaction of the population.

Deposits of USSR citizens in the bank were affected by price liberalization, leading to depreciation of their value.

The law on full compensation of deposits taking into account changes in the real value of the ruble was adopted in 1995.

As of 2022, repayment of the entire debt of RUB 345.54 billion in 2023 would require RUB 62.7 trillion (including indexation).

Sberbank branches started paying compensation on Soviet deposits to certain categories of population in 2008.

A law was adopted in 2019 to postpone the start of payments to 2023 once again.

In the fall of 2022, the government sent a bill to the State Duma to move the deadline to early 2026.

Sberbank is a massive bank with an impressive presence in Russia. As of 2015, it had around 16,500 offices across 22 countries.

The bank employs over 250,000 people, which is a testament to its size and scope. It's estimated to have over 137 million retail clients and over 1.1 million corporate clients.

Sberbank accounts for 28.6% of aggregate banking assets in Russia, making it a crucial player in the country's economy. It's often referred to as the "circulatory system of the Russian economy" and the "key lender to the Russian economy".

Here's a breakdown of Sberbank's regional divisions in Russia:

Customer engagement is crucial for any bank, and Sberbank is no exception. The primary bank by company/brand in Russia in 2022 was Sberbank, a testament to its strong customer base.

Sberbank's mobile banking app was the most downloaded in Russia in 2023, with millions of downloads. This is a significant achievement, considering the app's user-friendly interface and robust features.

The user age distribution of leading banking apps in Russia in 2023 shows that Sberbank's app was popular among all age groups. In March 2023, the age distribution of users of the most popular mobile banking apps in Russia was as follows:

Sberbank's customer satisfaction rate in Russia in 2023 was high, with a rate of 85% for online banking and 90% for mobile banking. This is a reflection of the bank's commitment to providing excellent customer service.

Sberbank's active online and mobile banking users have been steadily increasing over the years, from 1.5 million in 2013 to 14.8 million in 2023. This is a significant achievement, considering the growth of the digital banking market in Russia.

The bank's customer service outlets in Russia have also been expanding, with a total of 12,000 outlets in 2022. This provides customers with convenient access to Sberbank's services.

QR Code Integration is a game-changer for the digital ruble. The digital ruble mandate includes a new QR code system for payments, making it easier for people to use the digital ruble.

This system will support Russia's move away from dollar dependence through better technology. The QR code integration will simplify transactions and reduce reliance on foreign currencies.

The benefits of QR code integration are numerous, but one thing is clear: it's a step towards financial independence. Russia is using technology to its advantage, making it easier for people to use their digital ruble.