Herman Gref spoke at Sberbank’s Annual General Shareholders’ Meeting

29.05.2015, Moscow

May 29, 2015, Moscow – CEO and Chairman of the Executive Board of Sberbank Herman Gref spoke at the Annual General Shareholders’ Meeting.

“We just made it through one of the most difficult years since 2008,” Herman Gref said at the beginning of his presentation. “But, it turns out that we were better prepared for this crisis than we were in 2008. As a result we can consider 2014 a success for Sberbank Group. Sberbank’s profits accounted for two thirds of the Russian Banking Sector’s profits in 2014. At the same time Sberbank remains one of the most profitable banks in Europe. Most importantly we were able to save the Group’s capital and we did this without asking the government for help.”

According to Herman Gref, the most important elements of Sberbank’s strategy were technological breakthroughs: “We are focused on the bar set by global leaders in digital technology. Banks need to run to catch up with these leaders. We should have a smoothly running conveyor of innovations.”

“With the client for life” is how we described our efforts to improve client experience and provide comprehensive services,” recalled Herman Gref. “We look at complaints as the key to improving the quality of our service.”

“Our most important resource is our team,” said Herman Gref. “The Sberbank Group employees more than 300,000 people, including 35,000 managers at all levels. This is a huge number. You won’t find so many managers who share our values anywhere else. Our goal is to develop leaders inside of Sberbank.”

In closing, Herman Gref thanked Sberbank’s shareholders: “I am thankful to you, our shareholders, for believing in our work even in these difficult times. A crisis is a time of opportunity when people are more accepting of change and more willing to change. This is a good time to lay the foundation for the long-term viability of the bank.”

 

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Sberbank of Russia is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

The Bank holds the general banking license No.1481 issued by the Bank of Russia. The official website is www.sberbank.ru.