Sberbank named “Best Trade Finance Bank in CIS”
December 19, 2014, Moscow – Sberbank has been recognised as the top trade finance bank in the CIS by leading British publication Global Trade Review (GTR)1 for the third year in a row. The “Best Trade Finance Bank in CIS” award was conferred according to the results of a survey on 2014 performance held among managers of major global banks and financial corporations, export credit agencies, insurance companies, legal firms and other professional participants of the foreign economic activity and trade finance market. Sberbank was the only bank from the CIS featured on the list of the world’s top trade finance banks, which included such firms as HSBC, JPMorgan, Deutsche Bank, Standard Chartered, Commerzbank and others.
“In 2014 we performed a record number of trade finance and documentary business transactions to a total of over $33 bln, and the business’s profits have grown at an increasing rate,” said Oleg Ganeev, Member of the Executive Board and Deputy Chairman of the Executive Board of Sberbank of Russia, Head of Sberbank CIB. “These impressive results and yet another award presented to Sberbank are further proof of the stability of the business in these challenging times for the Russian economy and support our belief in the need to continue to develop trade finance at Sberbank Group.”
The Sberbank Group is confidently growing the number of operations with Asia-Pacific region countries, primarily China, but also India, South Korea, Singapore and the Arab nations (including with the involvement of export credit agencies). Sberbank also cooperates actively with the Russian Agency for Export Credit and Investment Insurance (EXIAR) and has created the Russian market’s largest portfolio of deals insured by the Agency. In addition, amid the growing interest in settlements in national currencies, Sberbank was one of the first Russian banks to begin issuing letters of credit with post-financing in Chinese yuan (CNY). Inter-group deals involving the foreign subsidiaries of the Sberbank Group in the CIS, Central and Eastern Europe and Turkey are being actively carried out thanks to the development of the Group’s international network.
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Sberbank of Russia
Tel. +7(495) 957 5721
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 110 million individual customers and 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with more than 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.
1 The world’s leading magazine covering international trade finance, which is distributed among companies that participate in foreign economic activity, banks, insurance firms and financial corporations.