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  • EQS Group

    Sberbank: Sber earned RUB271.4 bn in 3Q 2020 under IFRS

    Sberbank (SBER) 29-Oct-2020 / 10:15 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Sberbank reports 3Q 2020 Net Profit of RUB271.4 bn under International Financial Reporting Standards (IFRS)Moscow, July 29, 2020 \- Sberbank (hereafter "the Group" or "Sber") has released its interim condensed IFRS financial statements (hereafter "the Financial Statements") as at and for the 9 months ended 30 September 2020, with report on review by AO PricewaterhouseCoopers Audit. Alexandra Buriko, CFO, stated: "Revival in corporate and consumer activity in 3Q further to the end of the lockdown and meaningful support to business and the population led to significant growth in loan portfolio and transactional volumes in Sber. Further development of digital services along with the anti-crisis cost optimization program supported efficiency: Cost-to-Income Ratio decreased to 29.6%. Sber earned RUB271.4 bn in net profit and delivered 22.8% ROE5 in 3Q 2020. We expect that business activity will somewhat slow in 4Q as the pandemic continues. However, our solid financial position and upcoming seasonal uptick allows us to remain cautiously optimistic until the end of the year." 3Q 2020 Financial and Operational Highlights: * The Group net profit reached RUB271.4 bn (+73.9% y/y), and net profit from continuing operations totaled RUB265.6 bn (+15.1% y/y); * The Group earnings per ordinary share (EPS) came in at RUB11.82 (+63.05 y/y), and earnings per ordinary share from continuing operations came in at RUB11.55 (+7.7% y/y); * The Group return on equity (ROE)5 reached 22.8%, and return on assets (ROA)6 was 3.2%; * The Group gross loans1 stood at RUB24.5 trn, up by 5.7% excluding the FX revaluation effect. The retail loan portfolio was up by 7.4% to RUB8.9 trn, while the corporate loan portfolio amounted to RUB15.7 trn, up by 5.2% excluding the effect of FX revaluation; * Active retail client base grew by 1.3 mn to 98.2 mn; * Number of monthly active users (MAU) of mobile App Sberbank Online was up by 3 mn to 63 mn, and the number of daily active users (DAU) increased by 2.4 to 29.6 mn; DAU/MAU grew close to 47%; * Active corporate client base stood at 2.7 mn, while MAU in digital channels exceeded 2.3 mn users; * As of the end of 3Q 2020, over 13 mn clients were using Sber ID, a unified login that gives access to more than 90 Sber ecosystem services and partners. Statement of Profit or Loss Results Highlights RUB bn, unless stated otherwise 3Q 2020 3Q 2019 2Q 2020 3Q2020/ 3Q2019 % change 3Q2020/ 2Q2020 % change 9M 2020 9M 2019 9M2020/ 9M2019 % change Net interest income 411.3 353.9 398.5 16.2% 3.2% 1 181.7 1 044.5 13.1% Net fee and commission income 147.7 130.0 120.0 13.6% 23.1% 394.1 349.6 12.7% Other non-interest income / (expense) 3 33.6 27.1 -3.6 24.0% -1033.3% 40.3 79.6 -49.4% Operating income before provisions 2 592.6 511.0 514.9 16.0% 15.1% 1 616.1 1 473.7 9.7% Net charge related to change in asset quality: -85.7 -54.0 -132.9 58.7% -35.5% -385.7 -108.3 256.1% Net credit loss allowance charge for debt financial assets -63.3 -30.6 -126.5 106.9% -50.0% -327.8 -57.1 474.1% Negative revaluation of loans at fair value due to change in credit quality -22.4 -23.4 -6.4 -4.3% 250.0% -57.9 -51.2 13.1% Net loss allowance / provision for credit related commitments 1.9 -3.9 -0.7 -148.7% -371.4% -13.4 -2.0 570.0% Staff and administrative expenses -175.5 -167.4 -172.4 4.8% 1.8% -517.1 -486.6 6.3% Net profit from continuing operations 265.6 230.8 166.7 15.1% 59.3% 552.8 702.8 -21.3% Profit / (Loss) from discontinued operations 5.8 -74.7 0.0 -107.8% NA 5.8 -69.8 -108.3% Net profit 271.4 156.1 166.7 73.9% 62.8% 558.6 633.0 -11.8% Earnings per ordinary share from continuing operations. RUB 11.55 10.72 7.78 7.7% 48.5% 24.94 31.94 -21.9% Earnings per ordinary share. RUB 11.82 7.25 7.78 63.0% 51.9% 25.21 28.70 -12.2% Total comprehensive income 293.6 271.8 229.1 8.0% 28.2% 644.2 758.7 -15.1% Ratios Return on equity 5 22.8% 15.2% 14.2% \-- \-- 15.9% 20.9% \-- Return on assets 6 3.2% 3.1% 2.1% \-- \-- 2.2% 3.2% \-- Net interest margin 5.48% 5.30% 5.61% \-- \-- 5.52% 5.33% \-- Cost of risk (amortized cost loans) 111 bp 63 bp 224 bp \-- \-- 194 bp 41 bp \-- Cost of risk (amortized cost and FV loans) 143 bp 106 bp 225 bp \-- \-- 219 bp 72 bp \-- Cost-to-income ratio 2 29.6% 32.8% 33.5% \-- \-- 32.0% 33.0% \-- Balance Sheet Highlights RUB bn. unless stated otherwise 30.09.2020 30.06.2020 31.12.2019 30.09.2020/ 31.06.2020 % change 30.09.2020/ 31.12.2019 % change Gross total loans1: 24 546.2 22 852.1 21 749.4 7.4% 12.9% Corporate loans 1 15 664.3 14 582.1 13 865.4 7.4% 13.0% Retail loans 1 8 881.9 8 270.0 7 884.0 7.4% 12.7% Securities portfolio 5 687.8 4 845.0 4 369.7 17.4% 30.2% Assets 3 35 123.8 32 383.4 29 958.9 8.5% 17.2% Total deposits: 25 152.1 23 312.4 21 574.4 7.9% 16.6% Retail deposits 15 759.1 15 108.2 14 209.6 4.3% 10.9% Corporate deposits 9 393.0 8 204.2 7 364.8 14.5% 27.5% Book value per share6. RUB 214.2 213.4 198.3 0.4% 8.0% Ratios Net Loans / Deposits ratio (LDR) 91.2% 90.9% 94.4% \-- \-- Stage 3 + POCI loans / total gross loans at amortized cost 6.9% 7.5% 7.5% \-- \-- Provision coverage of Stage 3 + POCI loans 98.4% 102.0% 89.3% \-- \-- Net interest income increased by 16.2% y/y in 3Q 2020 to RUB411.3 bn. Interest income was down by 0.5% y/y in 3Q 2020 to RUB599.4 bn on the back of a gradual decline in yields following the market rates. * Retail loan portfolio expanded by 7.4% in 3Q 2020 and the balance came in at RUB8.9 trn, given the recovery in consumer activity once the pandemic-related restrictions were released as well as attractive loan rates. The share of retail lending in the total loan portfolio stayed at 36.2%. The yield on retail loans declined by 10 bp to 11.8%. * The mortgage portfolio grew by 8.5% in 3Q 2020, benefiting from robust demand for both the state and the bank's own subsidized mortgage programs which accounted for about 40% of new loan origination. In the meantime, mortgage lending was enhanced by a variety of digital services on the Sber housing platform, whereby the monthly audience increased by 2.8 mn to 10.3 mn users. * Consumer loan portfolio increased by 6.9%, boosted by higher demand on the back of favorable market rates and seasonal promos. Consumer lending was encouraged by growing issuances in digital channels, which accounted for 73% of the total. * * Corporate loan portfolio1 grew by 7.4% in 3Q 2020 to RUB15.7 trn, driven by record loan production and the lower ruble. Growth adjusted for the impact of FX revaluation was 5.2%. The yield on corporate loans was down by 30 bp for the quarter to 6.8%. * Thus far, Sber has been actively participating in the state support programs for business and signed loan agreements for more than RUB400 bn. Interest expense, including deposit insurance expenses, decreased by 24.4% y/y in 3Q 2020 to RUB188.1 bn on the back of lower market rates and reduction in deposit insurance contribution. Allocations for deposit insurance were down by 24.8% y/y to RUB16.1 bn in 3Q 2020. * Retail funding increased by 4.3% in 3Q 2020 to RUB15.8 trn. The average cost of retail funding decreased by 10 bp to 4.0%. * Corporate funding was up by 14.5% in 3Q 2020 to RUB9.4 trn, and grew by 7.9% adjusted for FX revaluation. The average cost of corporate funding was down by 10 bp to 3.0%. Net LDR ratio equaled 91.2% in 3Q 2020, up by 0.3 pp compared to 2Q 2020. Securities portfolio grew by 17.4% in 3Q 2020 and amounted to RUB5,687.8 bn, driven by purchases of OFZ with a floating coupon for the amount of RUB500 bn aimed at forming a liquidity buffer without any impact on capital adequacy and negligible effect on interest rate risk. The Group net fee and commission income increased by 13.6% y/y in 3Q 2020 to RUB147.7 bn due to upbeat transactional activity. * Sber continues the development of digital services and touchless solutions, which grew deeper into client habits during lockdown. SberPay wallet for NFC payments was launched in 3Q 2020 for off- and online shopping. * SberPrime subscription and autodidact voice assistants became available in Sberbank Online. * Net income from bank cards grew by 14.5% y/y, driven by recovery in acquiring turnover and merchant activity. * Transport acquiring is now available in 131 Russian cities. * Over a third of Sber clients opted for purely cashless transactions and the share of cashless payments accounted for 89.7% of total in 3Q 2020. Brokerage services are gathering momentum on the back of the growing range of investment instruments. Over the first 9 months in 2020, the number of brokerage accounts on the Sberbank Investor platform doubled and exceeded 2.5 mn. According to management accounts, the operating income of insurance, pension and asset management businesses totaled RUB28.9 bn (-10% y/y) in 3Q2020. Total assets under management increased by 4.4% in 3Q 2020 to RUB1.66 trn. The Group operating expenses (staff and administrative) were up by 4.8% y/y to RUB175.5 bn in 3Q 2020. Moderate cost growth was facilitated by the pandemic-related efficiency enhancement program. The increase in staff expenses slowed down to 2.1% y/y due to the leveling off the base effect from payroll indexation in July last year. The Group Cost-to-Income ratio2 was down by 3.2 pp y/y to 29.6% in 3Q 2020. Net credit loss allowance charge for loans at amortized costs amounted to RUB 62.5 bn in 3Q 2020. The Cost of Risk for loans at amortized cost was 111 bp. In accordance with IFRS 9 part of the loan portfolio is accounted at fair value through profit or loss. Negative revaluation of these loans due to change in credit quality amounting to RUB22.4 bn in 3Q. The combined provision charge including negative revaluation of loans at fair value amounted to RUB84.9 bn, while the combined Cost of Risk was down by 82 bp to 143 bp in 3Q 2020. The credit quality of the loan portfolio remained stable in 3Q 2020. The decrease in the share of impaired loans by 0.6 pp to 6.9% for loans at amortized cost was mostly technical and related to the bad debt recovery procedure for the Eurocement Group. Based on agreements with a previous beneficiary Sber consolidated 100% shares of the parent company of this group. An investor search is currently in process to sell the shares for the benefit of Sber. Total provision coverage of impaired loans in 3Q 2020 was down by 3.6 pp compared to the previous quarter to 98.4%. Selected Capital Adequacy Results4 The data in the table is in accordance with standardized and IRB approaches applied to the corresponding assets groups. Risk-weighted assets under a standardized approach as of 30.09.2020 were assessed according to Basel 3.5 and those for the previous periods were assessed according to Basel III. Risk-weighted assets under an IRB approach as of 30.09.2020 and 30.06.2020 were assessed according to Basel 3.5 and those for 31.12.2019 were assessed according to Basel III. Under Basel III RUB bn, unless stated otherwise 30.09.2020 30.06.2020 31.12.2019 30.09.2020 / 30.06.2020 % change 30.09.2020 / 31.12.2019 % change Common equity Tier 1 capital 4 554.8 4 721.2 4 375.4 -3.5% 4.1% Tier 1 capital 4 704.8 4 721.2 4 375.4 -0.3% 7.5% Total capital 4 836.4 4 863.2 4 433.5 -0.6% 9.1% Risk-weighted assets 34 004.7 31 936.4 32 634.1 6.5% 4.2% Credit risk 29 468.4 27 538.6 28 062.7 7.0% 5.0% Operational risk 3 486.8 3 486.8 3 486.8 0.0% 0.0% Market risk 1 049.5 911.0 1 084.6 15.2% -3.2% Ratios Common equity Tier 1 capital adequacy ratio 13.39% 14.78% 13.41% \-- \-- Tier 1 capital adequacy ratio 13.84% 14.78% 13.41% Total capital adequacy ratio 14.22% 15.23% 13.59% \-- \-- Leverage ratio 12.7% 13.7% 13.7% \-- \-- Common equity Tier 1 capital decreased by 3.5% to RUB4,554.8 bn on the back of dividends for 2019 declared in 3Q 2020. Tier 1 capital decreased by 0,3% to RUB4,554.8 bn. In 3Q 2020, the subordinated loan agreement in the amount of RUB150.0 bn, that was previously assigned by the Bank of Russia in favor of the Ministry of Finance, was included in the sources of additional capital. The Group's total capital changed insignificantly and amounted to RUB4,836.4 bn as of 30.09.2020. The Group's risk-weighted assets were up by 6.5% to RUB34,004.7 bn in 3Q 2020 mostly due to a 7% increase in the credit risk component of the risk-weighted assets on the back of loan portfolio growth and its FX revaluation. The increase was partially offset by the reduction of risk-weighted assets driven by transition to Basel 3.5 for Standardized approach and the cancellation of the macro add-on for unsecured consumer loans issued before 01.09.2019. Risk-weighted assets density decreased for the quarter from 92.9% to 92.0%. The Group's leverage ratio was down by 100 bp to 12.7% in 3Q 2020. Common equity Tier 1 capital adequacy ratio decreased by 139 bp to 13.39% in 3Q 2020, Tier 1 capital adequacy ratio was down by 94 bp to 13.84%, while total capital adequacy ratio decreased by 101 bp to 14.22%. 1 Before loan loss allowance and including loans at amortized cost and at fair value 2 Operating income before provisions for debt financial assets, credit related commitments and revaluation of loans at fair value due to change in credit quality 3 Other non-interest income / (expense) includes: Net losses from non-derivative financial instruments at fair value through profit or loss (excluding revaluation of loans at fair value due to change in credit quality); Net gains from financial instruments at fair value through other comprehensive income; Net gains from derivatives, trading in foreign currencies, foreign exchange and precious metals accounts translation; Net losses arising on initial recognition of financial instruments and loan modification; Impairment of non-financial assets; Net (charge for) / recovery of other provisions and allowances (excluding Net loss allowance / provisions for credit related commitments); Revenue of non-core business activities; Cost of sales and other expenses of non-core business activities; Net premiums from insurance and pension fund operations; Net claims, benefits, change in contract liabilities and acquisition costs on insurance and pension fund operations; Income from operating lease of equipment; Expenses related to equipment leased out; Other net operating (expense) / income 4 Total equity attributable to shareholders of the Bank / Total numbers of shares outstanding (ordinary + preferred) 5 Excluding the subordinated loan agreement in the amount of RUB150.0 bn classified as equity financial instrument that was previously ceded by the Bank of Russia in favor of the Ministry of Finance 6 Based on profit from continuing operations DISCLAIMER This document has been prepared by Sberbank of Russia (the "Bank") and has not been independently verified. This press release does not constitute or form part or all of, and should not be construed as, any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire, or a recommendation regarding, any shares or other securities representing shares in, or any other securities of the Bank, or any member of the Bank's group, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or any commitment whatsoever or any investment decision. The information in this press release is confidential and is being provided to you solely for your information and may not be reproduced, retransmitted or further distributed to any other person or published, in whole or in part, for any purpose. This press release doesn't constitute an offer of securities of the Bank for sale in the United States. The Securities may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1993 as amended. This press release is only being distributed to and is only directed at (A) persons in member states of the European Economic Area (other than the United Kingdom) who are "qualified investors" within the meaning of Article 2(1)(e) of Directive 2003/71/EC (as amended and together with any applicable implementing measures in that member state, the "Prospectus Directive") ("Qualified Investors"); (B) in the United Kingdom, Qualified Investors who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and/or high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order; and (C) such other persons as to whom this press release may be lawfully distributed and directed under applicable laws (all such persons in (A) to (C) above together being referred to as "relevant persons"). The shares, or other securities representing shares, or any other securities of the Bank are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents. This press release does not constitute any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire any securities of the Bank within the Russian Federation or in favor of the Russian entities or persons. Any foreign securities representing shares of the Bank may not be offered or sold within the Russian Federation, except as provided by the relevant Russian legislation. The information in this press release or in oral statements of the management of the Bank may include forward-looking statements. Forward-looking statements include all matters that are not historical facts, statements regarding the Bank's intentions, beliefs or current expectations concerning, among other things, the Bank's results of operations, financial condition, liquidity, prospects, growth, targets, strategies, and the industry in which the Bank operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Bank cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Bank operates may differ materially from those made in or suggested by the forward looking statements contained in this press release or in oral statements of the management of the Bank. In addition, even if the Bank's results of operations, financial condition and liquidity and the development of the industry in which the Bank operates are consistent with forward-looking statements contained in this press release or made in oral statements, those results or developments may not be indicative of results or developments in future periods. Sberbank assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. The information and opinions contained in this press release or in oral statements of the management of the Bank are provided as at the date of this press release or as at the other date if indicated and are subject to change without notice. No reliance may be placed for any purpose whatsoever on the information contained in this press release or oral statements of the management of the Bank or on assumptions made as to its completeness. No representation or warranty, express or implied, is given by the Bank, its subsidiaries or any of their respective advisers, officers, employees or agents, as to the accuracy of the information or opinions or for any loss howsoever arising, directly or indirectly, from any use of this press release or its contents. This press release is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. By attending or reviewing this press release, you acknowledge and agree to be bound by the foregoing. * * * ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: QRT TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 86776 EQS News ID: 1143861 End of Announcement EQS News Service

  • Race to Become Russia’s Amazon Is Heating Up
    Bloomberg

    Race to Become Russia’s Amazon Is Heating Up

    (Bloomberg) -- Covid-19 has driven a projected 10 million more Russian consumers online, accelerating the race to become the country’s answer to Amazon.com Inc. The chance to dominate e-commerce in the world’s biggest country is still very much up for grabs. Russia’s largest online retailer, Wildberries, controls only 13% of the market, even after its sales doubled in the first nine months of the year. By contrast, Amazon accounts for about half of the U.S. market.“Aided by the pandemic, large e-commerce platforms are gobbling up market share from both offline and online stores,” said Marat Ibragimov, an analyst at Gazprombank. “Competition is heating up, and in the future two or three will dominate.”Russia has more internet users than Amazon’s No. 2 market, Germany. Yet entrenched consumer habits and logistical challenges have stymied e-commerce in the country and discouraged foreign companies like Amazon from doing business there.After President Vladimir Putin ordered stores to close for almost two months during the first wave of Covid-19 in the spring, that left consumers with little choice but to give e-commerce a try. Internet sales are projected to surge 44% in 2020 to 2.5 trillion rubles ($32 billion), according to researcher Data Insight.  “When the authorities shut the local market because of Covid-19, all I could do was to try the internet,” said Nadezhda Nikulina, 62, who lives in northwest Russia and mainly uses Wildberries. “I found it really convenient, and the choice is enormous.”Online purchases will account for just over 10% of Russian retail sales in 2020, up from 6% last year, according to industry lobby group AKIT. That compares with 16% in the U.S. and 37% in China in 2019.Internet shopping hasn’t taken off as quickly in part because of the difficulties involved in making deliveries in such a large country. Even the national mail service only recently started experimenting with home delivery. A widespread reluctance to pay for goods before they’re received—a holdover from Russia’s chaotic transition to a market economy in the 1990s—has also played a role.The local market remains fractured, with thousands of internet shops, including offerings from traditional retailers such as electronics store M.video and children’s goods chain Detsky Mir. But there is a trend toward Amazon-style marketplaces.Wildberries started in 2004 as an online clothing merchant, but now sells items ranging from food to electronic goods. More than 90% of its deliveries go to a network of 26,000 pickup points around Russia—the biggest distribution network outside of the national post—that allow customers to try on goods before taking them home.There are three other main contenders to become Russia’s answer to Amazon.One is AliExpress, a joint venture between China’s Alibaba Group Holding Ltd. and London-listed Mail.ru Group Ltd. After losing market share because of the long delivery time for orders from China, it has begun working with more local suppliers. AliExpress subsidizes delivery costs and provides same-day service on some goods through a partnership with the state postal service.  Ozon, a Russian copycat of Amazon backed by billionaire Vladimir Evtushenkov and Baring Vostok Capital Partners, offers next-day delivery to 40% of the population. But deliveries to Siberia can take as long as five days.Ozon announced in October that it applied to sell shares in the U.S. to fund further growth, after more than doubling sales in the first half. It has set up a network of drop boxes near customers’ apartments, while also offering direct shipments through partners.The smallest competitor to date is Yandex NV, which accounts for 2% of the online retail market. Yandex already runs Russia’s leading search engine and its biggest car-hailing service. After an attempt to create an online marketplace with Sberbank PJSC ended earlier this year, Yandex sold $1 billion in shares to billionaire Roman Abramovich and other partners to invest more in e-commerce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • EQS Group

    Sberbank makes changes to Executive Board

    Sberbank (SBER) 13-Oct-2020 / 17:56 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Sberbank makes changes to Executive Board October 13, 2020, Moscow The Supervisory Board of Sberbank has decided to make changes to the Executive Board to improve the management model and implement strategic plans of Sber Group until 2023.The Executive Board will include the following members after obtaining the necessary approval from the Central Bank of the Russian Federation:- Kirill Tsaryov, Deputy Chairman of the Executive Board, Head of the Retail Business Unit\- Sergey Maltsev, Deputy Chairman of the Executive Board, Head of Sales Network Unit\- Natalya Alymova, member of the Executive Board, Head of Wealth Management Unit- Alexandra Buriko, member of the Executive Board, Head of Finances Unite.Svetlana Kirsanova, Deputy Chairman of the Executive Board, Head of Retail Business, who decided to pursue other career opportunities outside Sber Group, and Oleg Ganeev, who is moving to the position of Senior Vice President responsible for large distressed assets, are leaving the Executive Board.Herman Gref, CEO and Chairman of the Executive Board, Sberbank:"Each Sber leader, who will become a member of the Executive Board, has shown themselves to be a productive manager. I am sure that the expertise and professional experience of colleagues will be critically important to solve tasks of our new strategy." Press office Tel.: +7 495 957-5721media@sberbank.ru PJSC Sberbank is Russia's largest bank and a leading global financial institution. Holding almost one-third of aggregate Russian banking sector assets, Sberbank is the key lender to the national economy and one of the biggest deposit takers in Russia. The Government of the Russian Federation represented by the Ministry of Finance of the Russian Federation is the principal shareholder of PJSC Sberbank owning 50% plus one voting share of the bank's authorized capital, with the remaining 50% minus one voting share held by domestic and international investors. Sberbank has customers in 18 countries. The bank has a major distribution network in Russia with about 14,000 branches, while its international operations - subsidiary banks, branches, and chapters - include the UK, US, CIS, Central and Eastern Europe, India, China, and other countries. It holds general banking license No. 1481 dd. August 11, 2015, from the Bank of Russia. Official websites of the bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.On September 24, 2020, Sberbank underwent a rebranding, offering financial and non-financial services of the bank and Sberbank Group to individual and corporate customers. Today, the Sber ecosystem is a raft of services for life and daily assistance in handling pressing everyday issues for individual customers and businesses. The Sber ecosystem website: www.sber.ru. * * * ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: MSCM TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 85848 EQS News ID: 1140703 End of Announcement EQS News Service