Corporate Governance Code of Sberbank 2020

On December 8, 2020, the Supervisory Board of SberBank approved a new version of the Corporate Governance Code
Code revision triggers
Novelties in the new version
SberBank is developing its corporate governance processes and practices
  • Succession processes for the members of the Supervisory Board
  • Refined approaches to managing controlled companies
  • Digitization of corporate governance processes
New regulatory requirements
  • Extension of the core competencies of the Supervisory Board (the right to elect the CEO, Chairman of the Executive Board; approval of annual reports)
  • Elimination of the Audit Commission
  • Establishing the Supervisory Board Technology Committee
Transforming the Bank into a tech company and building the Ecosystem in line with Strategy 2023Changes in the bank’s operations related to transformation
ESG agenda becoming mainstreamThe bank’s ambition to consistently comply with international standards and principles of sustainable development and ESG
Until 2020, there was a conflict of interest: the Bank of Russia acted both as a regulator and as a SberBank’s shareholderA new controlling shareholder

“Importantly, the Bank’s ESG transformation has become a trigger for the revision of the Corporate Governance Code. This is an important step towards implementation of one of the ambitions contained in Sber’s new strategy – to become a leader of the sustainable development agenda in Russia.”

Nadya Wells
Independent member of the Supervisory Board of SberBank
Supervisory Board officer in charge of ESG

“We have filled the Code with a new content while preserving the best of what we had been practicing for years.”

Bella Zlatkis
Deputy Chairman of the Executive Board of SberBank
Member of the Supervisory Board of SberBank