Sberbank of Russia is the largest bank in Russia and CIS. Sberbank accounting for about a quarter of the aggregate Russian banking assets and a third of banking capital. Central Bank of the Russian Federation is the founder and the major shareholder of Sberbank, owning above 60% of voting shares. According to The Banker magazine, as of 1 July 2010, Sberbank was ranked 43th in the world in terms of Tier 1 capital. Total assets: US$ 384 billion (as of June 30, 2012). Net profit: US$ 10.8 billion (2011).
Sberbank is closely engaged in international activities through direct settlement agreements, correspondent accounts with over 220 leading credit institutions of the world, trade finance operations and membership in a number of international financial organizations. The Bank has the most widespread branch network in Russia: 17 Regional Head Offices, over 20,000 branches and banking outlets, as well as subsidiaries in Ukraine - Sberbank (Ukraine), Belarus - BPS-Bank, Kazakhstan - Sberbank (Kazakhstan), a branch in India, and a representative office in Germany.
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28.03.2013 Sberbank reports full-year 2012 net profit of RUB 347.9 billion (approx. $ 12.25 billion), compared with net profit of RUB 315.9 billion in 2011 (up 10.1%).
21.03.2013 Herman Gref, CEO and Chairman of the Management Board of Sberbank of Russia, in Prague to Celebrate the Launch of Sberbank Brand in Europe. More
30.08.2012 Sberbank of Russia reported net profit of RUB 175.3 billion (approx. US$ 5.41 bn) in the first half of 2012. Net interest income for H1 2012 totalled RUB 324.2 billion, a 25.1% increase year-on-year.
30.05.2012 Sberbank Group reports first quarter 2012 net income of RUB 92.2 billion (approx. US$ 3.1 billion), compared to RUB 86.8 billion in the first quarter 2011 (up 6.22%).
29.03.2012 Sberbank registered net profit of RUB 315.9 billion (approx. US$ 10.8 billion) in 2011, an increase of 74% from a year earlier. As at 31 December 2011, the Bank's total capital adequacy ratio was 15.2%.
No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters