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Sberbank of Russia (SBER.ME)

MCX - MCX Real-time price. Currency in RUB
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302.70-4.04 (-1.32%)
At close: 11:49PM MSK
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Previous close306.74
Open308.20
Bid313.32 x 390000
Ask302.70 x 163000
Day's range302.33 - 308.24
52-week range185.40 - 319.97
Volume26,858,430
Avg. volume54,704,494
Market cap12.57T
Beta (5Y monthly)0.94
PE ratio (TTM)7.06
EPS (TTM)42.89
Earnings date07 Jun 2021
Forward dividend & yield18.70 (6.10%)
Ex-dividend date11 May 2021
1y target est299.89
  • EQS Group

    Sberbank: Sber earned RUB386.1 bn for 4M 2021 (RAS)

    Sberbank (SBER) 11-May-2021 / 10:00 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 releases Financial Highlights for 4 months of 2021 (under RAS, non-consolidated) The numbers are calculated in accordance with Sberbank's internal methodology. Please note that some minor changes became effective in Sberbank's internal methodology starting from January 1, 2021. Therefore, the numbers for 2020 have been recalculated to make them comparable. May 11, 2021 Key highlights for April: The Bank earned a record net profit of RUB103.6 bn. ROE came in at 25.4%, and ROA at 3.7%. Retail loan portfolio expanded by 2.4%, with mortgages up by 2.9%. Thus, monthly loan issuance to retail clients has for the first time exceeded RUB0.5 trn. Retail client funding increased by RUB680 bn or 4.4%, excluding the effect of FX revaluation. Transition to a standardized approach for operational risk (Basel 3.5) reduced risk-weighted assets by RUB1.1 trn. Alexandra Buriko, CFO, stated: "In April, the pace of business growth was influenced by the low-base effect of 2020. Even so, it is worth noting the positive dynamics on a monthly basis: we issued a record volume of retail loans, increased our mortgage portfolio by 2.9% and raised additional retail funding by more than 4%. Cost to income ratio stayed below 30%. As a result, we earned RUB386 bn in net profit for the first four months, and ROE came in at 24.1%. A meaningful event in April was the transition to a standardized approach to calculate operational risk, which will allow us to increase the efficiency of capital usage." Comments for 4M 2021: Net interest income increased by 12.9% y/y, and amounted to RUB503.0 bn, due to loan portfolio expansion. A positive impact still comes from the decrease in allocations to deposit insurance fund, which was implemented in May 2020. Net fee and commission income totaled RUB175.4 bn, up by 16.3% as compared to the same period last year. This growth owes mainly to the low-base effect of April 2020, when transactional activity collapsed amid the pandemic-related lockdown constraints (net fee and commission income rebounded by 55.6% y/y in April 2021). Main growth drivers were banking cards transactions and acquiring, which were the most distressed last April: combined growth for 4 months was 28% y/y. Alongside the economic recovery, income also increases from client settlement transactions: 18% y/y for 4 months. Operating expenses amounted to RUB207.3 bn, and were up by 10.5% y/y. The dynamics owed to low level of operating expenses in March-April 2020 amid the non-working days and subdued business activity as well as smoother calendarization for OpEx in 2021. Cost-to-income ratio came in at 27.6%. Total provision charge including fair-value revaluation was RUB67.7 bn in 4M 2021. In April, provision charge amounted to RUB13.6 bn, including provision release of RUB4.8 bn on FX-loans due to the dynamics of exchange rates for main currencies. Loan-loss provisions stayed stable at 2.2 times that of the overdue loans. Net profit before income tax for 4M 2021 increased 1.7-times y/y, and came in at RUB477.2 bn. Net profit was also 1.7-times higher y/y, and amounted to RUB386.1 bn. Total assets in April increased by 2.0%, adjusted for FX revaluation, and exceeded RUB35 trn, mainly from retail lending growth. The Bank issued RUB1.2 trn in loans to corporate clients in April. The corporate loan portfolio was up by 0.6%, adjusted for FX revaluation, mainly from lending growth in Rubles, to RUB15.6 trn as of May 1, 2021. The dynamics within the portfolio were explained by the termination of the state subsidized program of lending at 2% and respective reduction of the corporate loan book. Loan production to retail clients hit a record in the amount of RUB526 bn in April. The monthly pace of retail portfolio growth accelerated further to 2.4%. As a result, total retail portfolio exceeded RUB9 trn as of May 1, 2021. The main growth driver continues to be mortgages, with the portfolio up by 2.9% in April. Share of overdue loans in total loan portfolio came down by 0.05 pp to 3.15% in April, driven by both retail and corporate loans. Securities portfolio was down by 0.4% to RUB5.17 trn in April from the OFZ and corporate bonds. Retail client funding in April increased by RUB680 bn, or 4.4%, adjusted for FX revaluation, to exceed RUB16.1 trn as of May 1, 2021. The strong dynamics for the month were explained by the additional non-working days between the May holidays, and payroll and pension distribution in April. The growth also continued in the ending balances of the escrow accounts, supported by high volumes of mortgage lending. Corporate client funding in April came down by 1.2%, adjusted for FX revaluation, to RUB7.5 tn as of May 1, 2021. The decrease in the ending balances was explained by the tax payments, as well as payroll distribution to employees before the May holidays. The total client funding overall were up for the month by 2.5%, adjusted for FX revaluation, to reach RUB23.7 trn. Core Tier 1 and Tier 1 capital changed insignificantly in April to RUB4,296 bn and RUB4,446 bn respectively as of May 1, 2021. Total capital in April increased by 2.5%, or by RUB121 bn, to RUB4,976 bn mainly due to earnings for the period. Risk-weighted assets* in April decreased by 2.4%, or by RUB0.8 trn, mainly due to the transition to a standardized approach in calculating operational risk under the Central Bank Regulation #744-P, the effect from which was RUB-1.1 trn. As a result, risk-weighted assets were RUB31.6 trn as of May 1, 2021, under preliminary calculations. Capital, RUB bn 1 May21* 1 Apr21 1 May21* / 1 Apr21 1 Jan21 1 May21*/ 1 Jan21 Core Tier 1 capital N1.1 4 296 4 303 -0.2% 3 581 20.0% Tier 1 capital N1.2 4 446 4 453 -0.2% 3 731 19.2% Total capital N1.0 4 976 4 855 2.5% 4 661 6.8% Capital adequacy ratios, % Core Tier 1 capital N1.1, min 4.5% 13.60% 13.30% 0.3% 11.19% 2.4% Tier 1 capital N1.2, min 6.0% 14.08% 13.77% 0.3% 11.66% 2.4% Total capital N1.0, min 8.0% 15.73% 14.99% 0.7% 14.54% 1.2% Risk-weighted assets, RUB bn 31 624 32 391 -2.4% 32 042 -1.3% * preliminary calculations Sberbank Financial Highlights for 4 months 2021 (under RAS, non-consolidated) ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: MSCM TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 104155 EQS News ID: 1194878 End of Announcement EQS News Service

  • EQS Group

    Sberbank: Sberbank reports 1Q 2021 Net Profit of RUB304.5 bn under IFRS

    Sberbank (SBER) 29-Apr-2021 / 10:00 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 1Q 2021 Net Profit of RUB304.5 bn under International Financial Reporting Standards (IFRS) Moscow, April 29, 2021 - Sberbank (hereafter "the Group" or "Sber") has released its interim condensed IFRS financial statements (hereafter "the Financial Statements") as at and for the 3 months ended 31 March 2021, with report on review by AO PricewaterhouseCoopers Audit. Alexandra Buriko, CFO, stated: "In the first quarter of 2021, the business progressed better than expected: Sber increased the retail loan book to 9.7 trillion Rubles, the transactional business expanded despite the high base of last year, and the revenue of the non-financial business quadrupled. Moreover, the stabilization of the loan portfolio asset quality allowed significant reduction of the credit risk cost. As a result, Sber earned 304.5 billion Rubles net profit for the quarter. The improving customer experience, expansion of the digital services, and integration of a wide range of offerings, fortified by the technological transformation, have allowed to surpass the milestone of 100 million active retail customers. A strong start in 2021 gives us the ground to raise our forecast for the Return on Equity to exceed 20% in the current year." 1Q 2021 Financial and Operational Highlights: The Group net profit reached RUB304.5 bn (+152.7% y/y); The Group earnings per ordinary share (EPS) came in at RUB14.19 (+153.4 y/y); The Group return on equity (ROE)1 reached 24.3%, and return on assets (ROA)2 was 3.3%; Active retail client base exceeded 100 mn; Number of monthly active users (MAU) of mobile App Sberbank Online was up by 1.7 mn to 67.2 mn, and the number of daily active users (DAU) increased by 800 ths to 33.2 mn; Active corporate client base exceeded 2.8 mn, while MAU in digital channels exceeded 2.4 mn users; The number of SberPrime subscribers was almost 1 mn; The number of monthly active users (MAU) of the voice assistant Salut was over 2 mn; Over 19 mn clients were using Sber ID, a unified login that gives access to more than 100 services of Sber ecosystem and partners; The number of the participants of the loyalty program Spasibo exceeded 47 mn clients; The Group gross loans3 were RUB25.5 trn, up by 2% in 1Q21. The retail loan portfolio was up by 3.9% to RUB9.7 trn, while the corporate loan portfolio amounted to RUB15.8 trn, up by 0.8%; Sber approved the ESG Risk Management Policy as part of Sber ESG transformation, and introduced sustainability development factors in the management KPIs and in the loan underwriting process. Statement of Profit or Loss Results Highlights RUB bn, unless stated otherwise 1Q 2021 1Q 2020 4Q 2020 1Q2021/ 1Q2020 % change 1Q2021/ 4Q2020 % change Net interest income 421.5 371.9 426.5 13.3% -1.2% Net fee and commission income 134.3 126.4 158.5 6.3% -15.3% Other non-interest income / (expense) 5 33.4 9.1 -9.2 267.0% -463.0% Operating income before provisions 6 589.2 507.4 575.8 16.1% 2.3% Net charge related to change in asset quality: -25.5 -167.1 -108.1 -84.7% -76.4% Net credit loss allowance charge for debt financial assets -44.2 -138.0 -84.2 -68.0% -47.5% Positive / (negative) revaluation of loans at fair value due to change in credit quality 18.7 -29.1 -23.9 -164.3% -178.2% Net loss allowance / provision for credit related commitments -6.5 -14.6 16.1 -55.5% -140.4% Staff and administrative expenses -179.9 -168.0 -241.4 7.1% -25.5% Net profit from continuing operations 304.8 120.5 199.0 152.9% 53.2% Profit / (Loss) from discontinued operations -0.3 0.0 2.7 -- -- Net profit 304.5 120.5 201.7 152.7% 51.0% Earnings per ordinary share from continuing operations. RUB 14.20 5.60 9.02 153.6% 57.4% Earnings per ordinary share. RUB 14.19 5.60 9.15 153.4% 55.1% Total comprehensive income 230.0 121.5 211.9 89.3% 8.5% Return on equity 1 24.3% 10.6% 16.6% -- -- Return on assets 2 3.3% 1.5% 2.2% -- -- Net interest margin 5.18% 5.49% 5.34% -- -- Cost of risk (amortized cost loans) 74 bp 251 bp 139 bp -- -- Cost of risk (amortized cost and FV loans) 41 bp 292 bp 171 bp -- -- Cost-to-income ratio - banking business 6 29.3% 30.7% -- -- -- Balance Sheet Highlights RUB bn. unless stated otherwise 31.03.2020 31.12.2020 31.03.2020/ 31.12.2020 % change Gross total loans 3: 25 498.6 25 008.6 2.0% Corporate loans 3 15 823.8 15 700.4 0.8% Retail loans 3 9 674.8 9 308.2 3.9% Securities portfolio 6 617.4 6 557.4 0.9% Assets 37 500.4 36 016.0 4.1% Total deposits: 26 997.6 25 765.7 4.8% Retail deposits 16 508.1 16 641.0 -0.8% Corporate deposits 10 489.5 9 124.7 15.0% Book value per share 7. RUB 232.6 223.4 4.1% Ratios Net Loans / Deposits ratio (LDR) 88.4% 90.8% -- Stage 3 + POCI loans / total gross loans at amortized cost 6.8% 6.6% -- Provision coverage of Stage 3 + POCI loans 98.9% 102.8% -- Net interest income increased by 13.3% y/y in 1Q 2021 to RUB421.5 bn. Interest income was up by 5.8% y/y in 1Q 2021 to RUB617 bn on the back of strong retail lending dynamics. Retail loan portfolio expanded by 3.9% in 1Q 2021 and the balance came in at RUB9.7 trn. The yield on retail loans declined by 50 bp to 11.1%, both from the replacements with loans at lower rates, and growing share of mortgages in total retail portfolio to 56.4%. The mortgage portfolio grew by 4.5% in 1Q 2021, benefiting from robust demand for both the state and the bank's own subsidized mortgage programs which accounted for over 30% of new loan origination. The Sber housing platform DomClick enhanced the mortgage lending; the monthly audience increased by 1.2x to over 14 mn users. The models for assessing credit risk of mortgage products were refined using a new generation of AI, which improved the accuracy of assessing the creditworthiness of clients, and led to portfolio growth while maintaining stable asset quality. Consumer loan portfolio increased by 3.4% in 1Q 2021, boosted by higher demand on the back of favorable market rates and seasonal promos. The share of consumer lending in digital channels remains high, accounting for 68% for 1Q 2021. Corporate loan portfolio grew by 0.8% in 1Q 2021 to RUB15.8 trn. Adjusted for the impact of the FX revaluation4, the portfolio was up by 0.2%, primarily from lending in Ruble. The yield on corporate loans was up by 10 bp to 6.4% for the quarter. Interest expense, including deposit insurance expenses, decreased by 7.6% y/y in 1Q 2021 to RUB195.5 bn on the back of the reduction in deposit insurance contribution, as well as lower cost of funding as compared to a year ago. Retail funding decreased by 0.8% in 1Q 2021 to RUB16.5 trn. The ending balance on current accounts remains stable. The cost of retail funding was unchanged at 3.7%. The share of retail current account balances in total retail funding was almost 38% thanks to growing volumes on the escrow accounts and increased cashless transactions. Corporate funding was up by 15% in 1Q 2021 to RUB10.5 trn, to an extent, from short-term liquidity management. The cost of corporate funding remained unchanged during the quarter at 2.7%. Net LDR ratio equaled 88.4% in 1Q 2021, down by 2.3 pp compared to 4Q 2020. Securities portfolio grew by 0.9% in 1Q 2021 and amounted to RUB6.6 trn, mainly from purchases of the OFZ bonds. The Group net fee and commission income increased by 6.3% y/y in 1Q 2021 to RUB134.3 bn on the back of high comparison base of 1Q 2020, and were driven mainly by high transactional activity. Net income from bank cards grew by 10.8% y/y, driven by recovery in acquiring turnover. Transport acquiring is now available in 142 Russian cities. The combined operating income before provisions of the segment Wealth management and brokerage reached RUB16.3 bn, up by 17.3% in 1Q 2021. Assets under management increased by 3% to RUB1.8 trn. The share of sales of the Wealth management products in digital channels increased by 1.5x to 28%. Net assets under custody on retail brokerage accounts were almost RUB 2 trn by the end of 1Q 2021. A new product, Responsible Investments, with a focus on stocks of Russian companies that comply with the principles of sustainable development, has become available to retail investors. The combined operating income before provisions of the segment Risk insurance was RUB18.7 bn, down by 5.1%. The decline in the segment income was the result of an active flow of customers to online channels in 2020 against the backdrop of a pandemic. Rapid sales growth in digital channels has partially offset their decline in physical network. The revenues8 of the segment Non-financial business increased 4x y/y to RUB33.6 bn for 1Q 2021. SberMarket GMV increased 6.5x y/y to RUB9.9 bn in 1Q 2021. The number of orders for the quarter exceeded 3.5 mn, almost 10x greater than a year-ago. In April 2021, Sber acquired an 85% stake in the marketplace goods.ru, that was rebranded into SberMegaMarket. It would become the core multi-category e-commerce platform for Sber, and already presents 16 main categories and 2.5 mn SKUs. In February 2021, Sber completed the acquisition of a 45% stake in one of the leading Russian online pharma delivery services, EApteka, that was rebranded into SberEApteka. The Group operating expenses were up by 7.1% y/y to RUB179.9 bn in 1Q 2021. The efficiency of the financial business improved significantly thanks to the technological transformation and growth of sales in digital channels, that led to the reduction of headcount in the financial segment. Overall, the Group total headcount was down by 7.4 ths employees to 278.2 ths for the quarter. At the same time, the number of employees engaged in the development of the non-financial services increased. The Group Cost-to-Income ratio6 for the banking business was down by 1.4 pp y/y to 29.3% in 1Q 2021. The combined provision charge including revaluation of loans at fair value amounted to RUB25.5 bn, while the combined Cost of Risk was 41 bp in 1Q 2021. Net credit loss allowance charge for loans at amortized cost amounted to RUB 44.2 bn in 1Q 2021, and the Cost of Risk was 74 bp in 1Q 2021. The positive revaluation of loans at fair value due to change in credit quality, was RUB18.7 bn. The credit quality of the loan portfolio remained merely unchanged in 1Q 2021. The share of Stage 3 and POCI loans in loans at amortized cost was 6.76%, up 15 bp, as compared to 4Q 2020. Total provision coverage of impaired loans in 1Q 2021 was down by 3.9 pp to 98.9% as compared to 4Q 2020. Selected Capital Adequacy Results 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 31.03.2021 and 31.12.2020 were assessed according to Basel 3.5. Risk-weighted assets under an IRB approach as of 31.03.2021 and 31.12.2020 were assessed according to Basel 3.5. Under Basel 3.5 RUB bn, unless stated otherwise 31.03.2021 31.12.2020 31.03.2021 / 31.12.2020 % change Common equity Tier 1 capital 4 922.1 4 719.9 4.3% Tier 1 capital 5 072.1 4 869.9 4.2% Total capital 5 261.4 5 008.9 5.0% Risk-weighted assets 34 421.2 34 124.2 0.9% Credit risk 29 425.8 29 253.9 0.6% Operational risk 3 664.3 3 664.3 0.0% Market risk 1 331.1 1 206.0 10.4% Ratios Common equity Tier 1 capital adequacy ratio 14.30% 13.83% -- Tier 1 capital adequacy ratio 14.74% 14.27% Total capital adequacy ratio 15.29% 14.68% -- Leverage ratio 12.9% 12.9% -- Common equity Tier 1 capital increased by 4.3% for 1Q 2021 to RUB4,992.1 bn from net profit earned for the reporting period. The Group's total capital increased by 5% for 1Q 2021 to RUB5,261.4 bn from growth of CET1 capital, as well as placement of subordinated bonds in the amount of RUB56 bn. The Group's risk-weighted assets were up by 0.9% to RUB34,421.2 bn in 1Q 2021 mostly due to the 0.6% increase in the credit risk component of the risk-weighted assets on the back of loan portfolio growth, and the 10.4% increase in the market risk from increased operations on the financial markets. The risk-weighted assets density decreased from 90.3% to 87.6% for 1Q 2021 due to the application for the foreign Group subsidiaries of the macroprudential adjustments to the risk coefficients set up by their national regulators, as well as growth of assets with zero risk weight. The Group's leverage ratio was unchanged at 12.9% in 1Q 2021. Common equity Tier 1 capital adequacy ratio increased by 47 bp to 14.3% in 1Q 2021, Tier 1 capital adequacy ratio was up by 47 bp to 14.74%, while total capital adequacy ratio increased by 61 bp to 15.29%. 1 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 2 Based on profit from continuing operations 3 Before loan loss allowance and including loans at amortized cost and at fair value 4 Based on management accounts 5 Other non-interest income / (expense) includes: Net gains / (losses) from non-derivative financial instruments at fair value through profit or loss; 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 and modification of financial instruments measured at amortized cost; Impairment of non-financial assets; Net charge for other provisions and allowances; Revenue of non-financial and other business activities; Cost of sales and other expenses of non-financial and other 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; Net share of loss of associates and joint ventures; Other net operating income / (expenses) 6 Operating income before provisions for debt financial assets, credit related commitments and revaluation of loans at fair value due to change in credit quality 7 Total equity attributable to shareholders of the Bank / Total numbers of shares outstanding (ordinary + preferred) 8 For the segment Non-financial business Revenues of the associates and joint ventures are disclosed proportionately to the ownership share of the Group in the reporting period. For the companies of the Group Revenues are calculated on the 100% basis from the date of the control. The information does not include data on Yandex.Market and the financial results from the disposal of Yandex.Market 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: QRF TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 101863 EQS News ID: 1190284 End of Announcement EQS News Service

  • Exclusive: Russia's Sberbank to expand in logistics in e-commerce push
    Reuters

    Exclusive: Russia's Sberbank to expand in logistics in e-commerce push

    Russia's biggest bank Sberbank plans to expand its logistic business across the world's largest country as it seeks to capitalise on a booming e-commerce market, Chief Financial Officer Alexandra Buriko told Reuters. As banking margins shrink, Sberbank is expanding in areas ranging from food delivery and taxi services to cloud computing and cyber security as it tries to tap into what it calls the broader ecosystems of its financial services customers. Delivery is one of the top challenges in Russia, which accounts for about 17% of the world's land mass.