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Sberbank bank

Сбербанк России
 
Name
Sberbank
Full name
PJSC "Sberbank of Russia"

Ranking

on 01.11.2018
Headquarter
117997, Moscow, Vavilova street, 19
Banki.ru reference

The history of Sberbank of Russia dates back from the nominal decree of Russian Emperor Nicholas I of Russia dated 1841 about the establishment of savings banks, the first of which was opened in Saint Petersburg in 1842. 150 years after that — in 1987 — specialized Bank of Labor Savings and Public Lending — Sberbank of the USSR, which also provided corporate services, was incorporated on the basis of state-owned labor savings banks. Sberbank of the USSR comprised 15 republican banks, including Russian Republican Bank.

Russian Republican Bank of Sberbank of the USSR was announced the property of the RSFSR by a resolution issued by the Supreme Soviet of the RSFSR in July 1990. In December 1990, the bank turned into a joint stock commercial bank that was legally established by the general meeting of shareholders on March 22, 1991. Also in 1991, Sberbank was put on the books of the Central Bank of Russia and registered as Joint Stock Commercial Savings Bank of the Russian Federation. In many ways, owing to the regulator’s support and higher fees for settlement services Sberbank managed to withstand the GKO-OFZ financial meltdown in 1998 (at that time the portion of government debt obligations in the bank’s assets equaled 52%, while the credit portfolio accounted for only 21% of net assets). In September 2012, the Bank of Russia divested its 7.6% interest in Sberbank to private investors for Rub 159 bln, or nearly $5 bln.

At present, the Bank of Russia is still the lender’s controlling shareholder (the regulator holds 52.32% of the bank’s charter capital). The lender’s minority shareholders are over 226,000 businesses and individuals, including foreign institutional investors that hold 47.68% of the bank’s shares. The bank’s common and preferred shares have been listed on Russian stock exchanges since 1996. The lender’s ADRs are listed on the London Stock Exchange, trade on the Frankfurt Stock Exchange and on the US OTC market.

The largest Russian lending institution runs three subsidiary banks in the CIS member states (Kazakhstan, Ukraine and Belarus) and three subsidiaries in Europe (Sberbank Europe AG, headquartered in Austria (established on the basis of Volksbank International AG, which Sberbank acquired in 2012, the bank operates a network comprising nine subsidiary banks in eight Central and Eastern Europe (Slovakia, the Czech Republic, Hungary, Slovenia, Croatia, Bosnia and Herzegovina, Serbia and Ukraine)), DenizBank A. S. in Turkey (99.85% of the stock also bought in 2012) and Sberbank (Switzerland) AG with headquarters in Zurich. Moreover, Sberbank runs representative offices in China and Germany, and a branch in India. The DenizBank acquisition was wrapped up in September 2012, becoming the biggest purchase in more than 170 years of the bank’s history.

In 2012, Sberbank closed the acquisition of investment company Troika Dialog (it was transformed into a corporate investment unit, Sberbank CIB, while retail lender Troika Dialog was sold to a group of private investors in the fall of 2013). Also in 2012, Sberbank closed the transaction to buy from French banking group BNP Paribas a majority interest in the latter’s subsidiary Russian retail bank (presently the JV operates as Cetelem Bank, with Sberbank holding a 74% stake).

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