() (Сбербанк России, a contraction of "сберегательный банк"; English: "Savings Bank
of the Russian Federation
") is the largest bank
and Eastern Europe
. Its headquarters are in Moscow
and its history goes back to Cancrin
's financial reform of 1841. In many regions Sberbank is practically the only bank capable of providing local administrations with complex banking services and of rendering significant financial support in implementing investment and social programs.
The Savings Bank of the Russian Federation is the oldest bank in the country, established in 1841. After the Russian financial crisis
, Sberbank continued to shift its focus away from GKOs
and toward investment in the private sector of the economy. Its loan portfolio increased between two and three times in 1999 as it lent large amounts to oil, natural gas, and mining concerns.
The Central Bank of the Russian Federation, also known as The Bank of Russia, is a majority shareholder of Sberbank, owning 60.25% of Sberbank's voting shares with the rest of the shares dispersed among portfolio, private and other investors with the estimated shareholding of about 20% by foreigners.
- Chairman of the Board and CEO: German Gref (Mr.) (confirmed by the Board of Directors on 16 October, 2007)
The bank has approximately 20,000 branches with 242,000 employees and revenues of 8 billion USD.
Largest Financing Projects
The Bank's largest ten borrowers received RUB 297 billion in 2004. Known projects include:
- GT TEZ Energo (construction of gas turbine electric power plants)
- Sevmorneftegaz (shipbuilding project to develop the Prirazlomnoye oil field)
- Sayanskhimplast (chlorine and caustic soda production facilities improvements)
- The "Svyazinvest's 2004 investment programme"
- Ilyushin Finance Co. (lease for three aircraft)
- Delta Telecom's (St. Petersburg cell network)
Export Credit Agencies relationships
Sberbank signed cooperation agreements with several Export Credit Agencies (ECAs) in 2004 including Eximbank USA, Eximbank Hungary and the Israel Foreign Trade Risks Insurance Corporation. Sberbank has also cooperated with OeKB, ECGD, Euler Hermes, SACE, CESCE, EDC (Canada), Atradius (Netherlands), KUKE (Poland), COFACE (France), Finnvera (Finland), EGAP (Czech), EKN (Sweden), ERG (Switzerland), NEXI (Japan) and Japan Bank for International Cooperation.
- Sberbank Rossii (Kazakhstan) (former Texakabank)
- Sberbank Rossii (Ukraine) (former NRB)