Sberbank: Sberbank Included in the World's 20 Strongest Banks
EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous/Miscellaneous Sberbank: Sberbank Included in the World's 20 Strongest Banks
22.06.2011 / 07:41
Sberbank Included in the World's 20 Strongest Banks
June 20, 2011, Moscow - Sberbank of Russia ranks 20th in the World's 20 Strongest Bank rating published by Bloomberg Market Magazine in June.
Sberbank has become the only Russian bank to appear in this ranking. The first line is occupied by Singapore Oversea-Chinese Banking Corp. (OCBC). Out of all 20 positions, 5 lines are occupied by Canadian banks, Singapore banks have managed to get three lines, and Brazilia and Hong Kong occupy two lines each. The ranking includes banks with at least $100 billion in assets based on performance in 2010.
'A high place in the world's strongest banks ranking is one more proof that our team is on the right way,' - said Sberbank's President and Chairman of the Board Herman Gref. 'Sberbank continues successful implementation of its Strategy, whereby the bank should become a world's leading financial institution.'
Bloomberg experts based their chose of the world's strongest banks on the following criteria: - tier 1 capital (criterion weight - 40%). According to the current international standards, it should comprise at least 8% of the bank's assets. The ranking leader - OCBC - has tier 1 capital of 16.3%, and Sberbank - 11.9%.
- share of nonperforming assets in the total portfolio and provisions for such assets (criteria weight - 20%);
- share of deposits in liabilities and bank's efficiency measured as a comparison of costs against revenues (criteria weight - 15% and 5% respectively). According to the said two criteria Sberbank was the rating leader: Sberbank's costs make only 41.9% of its revenues, and deposits make 88.3% of its liabilities.
Previously, Bloomberg included Sberbank in its three Best Grow Stock leaders among the world's 30 major banks with the largest capitalization. According to Bloomberg's data, the price of Sberbank shares increased by 25.5%. As of the end of the year, the bank's capitalization reached $76.1 billion, which is a 23.1% growth (YoY).
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Sberbank of Russia Alexander Baziyan Public Relations Tel. +7(495) 957 5721
Sberbank of Russia JSC is the largest bank in Russia, Central and Eastern Europe, and its share includes about 30% of assets of Russian banking system with about 240 thousand employees. Central Bank of the Russian Federation is the founder and the major shareholder of Sberbank of Russia JSC, owning above 60% of voting shares. Other shareholders include about 260 thousand individuals and legal entities. The Bank has the most developed branch network in Russia: 17 territorial banks, about 20 thousand branches and internal organization departments, as well as subsidiary banks in Kazakhstan, Ukraine and Belarus, a branch in India, and a representative office in Germany.
General license of the Bank of Russia to perform bank operations 1481.
Bank's official site - www.sberbank.ru
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Language: English Company: Sberbank 19 Vavilova St. 117997 Moscow Russland Phone: +7-495-957-57-21 E-mail: media@sberbank.ru Internet: www.sberbank.ru Listed: Foreign Exchange(s) MICEX, RTS
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129364 22.06.2011
ISIN noisin054146 RU0009029540 RU0009029557
AXC0019 2011-06-22/07:42
