Sberbank Europe Group

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Sberbank Europe Group
Aktiengesellschaft
Industry Banking, Financial services
Founded 2012 (Acquisition of Volksbank International AG, VBI)
Headquarters Vienna, Austria
Area served
Central and Eastern Europe
Key people

Gerhard Randa (CEO since 2016),

Arndt Röchling (CFO),

Alexey Bogatov (CRO/CIOO),

Stefan Zapotocky (Corporate Business),

Sonja Sarközi (Retail Business)
Products Retail and corporate banking
Total assets €12.7 billion (YE 2016)
Owner Sberbank of Russia (100%)
Number of employees
4,333 (YE 2016)
Subsidiaries Sberbank BH d.d. Sarajevo; Sberbank d.d.; Sberbank CZ, a.s.; branch Sberbank Direct (Germany); Sberbank Magyarorszag Zrt.; Sberbank Srbija a.d. Beograd; Sberbank banka d.d.; PJSC VS Bank
Website www.sberbank.at

Sberbank Europe Group (Sberbank Europe AG) is a banking group headquartered in Vienna, Austria and is owned by Sberbank of Russia. Sberbank Europe provides financial services to over 670,000 customers in nine countries in Central and Eastern Europe.

History[edit]

Sberbank Europe AG was established in 2012 after Sberbank of Russia acquired Volksbank International AG (VBI) and rebranded it into Sberbank Europe, the deal involved all VBI assets – banks in Bosnia and Herzegovina, Croatia, Czech Republic, Hungary, Serbia, Slovenia, Ukraine and Slovakia, apart from Volksbank Romania. Société Générale and J.P.Morgan acted as financial advisors to Sberbank. Troika Dialog also advised on the transaction. The deal price was €505 million,[1] which is 1.0x VBI book value (excluding Romania). Organizational transformation and group restructuring were exercised during that period, the regional headquarter of Sberbank Europe Group was decided to be in Vienna, Austria.

In 2013 Sberbank Europe received a full banking license in Austria and obtained its first Fitch Ratings investment grade BBB-[2]

By 2014 rebranding of Volksbank subsidiaries into Sberbank was fully completed. Sberbank Europe received a syndicated loan of €350m and launched Sberbank Direct in Germany, an online direct bank with basic retail products. Sberbank Direct gained €1.7 bn in deposits by 2015. In the same year Sberbank Europe sold 99.5% stake of its Slovak subsidiary, Sberbank Slovensko, to Penta Investments.[3] The purchase price of the subsidiary was decided to be confidential. Sberbank Europe AG completed the Comprehensive Assessment consisting of the Asset Quality Review (AQR) and the Stress Test conducted by the European Central Bank.

In 2016 Sberbank finalized the deal on Slovak subsidiary sale and converted €370m of subordinated loans (Tier II capital) into Common Equity Tier I capital strengthening its capital structure.

Sberbank was awarded “Bank of the Year” in 2012, “Best Bank in CEE” in 2014 by The Banker magazine, and “Best Information Security Initiatives in CEE” in 2015 by Global Finance magazine; in 2017 the bank won in categories “Best Bill Payments & Presentment‘”, “Best Mobile Banking App”, “Best SMS/Text Banking” by Global Finance (magazine) [4]

Ownership[edit]

Sberbank Europe Group fully belongs to Sberbank of Russia, the Central Bank of Russia is the founder and the 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.

Operations[edit]

The bank has 228 branches in Central and Eastern Europe with over 4,300 employees (as of 2016).

Sberbank Europe Group AG operations can be divided into three core businesses: Retail business, Large corporate & investment banking and Small and medium-sized enterprise business. Retail business involves the provision of mortgages and consumer loans, savings and pension products and digital banking programs. Large corporate & investment banking includes corporate, real estate and acquisition financing as well as trade finance and treasury products. Small and medium-sized enterprise business offers liquidity financing (Working Capital/Overdraft), investment financing (equipment/business facilities), Treasury finance products and transaction business support.

Subsidiaries in Europe[edit]

Sberbank Europe Group AG is present in 9 markets in Central and Eastern Europe:

Bank Country Number of branches (as of 2016) Types of services
Sberbank Europe Austria 1 Corporate & investment banking, transactions and trade finance
Sberbank d.d. Croatia 31 Retail banking, Corporate banking, SME business
Sberbank CZ, a.c. Czech Republic 28 Retail banking, Corporate banking, SME business
Sberbank Direct Germany Pure online banking Retail banking
Sberbank Magyarország Zrt Hungary 27 Retail banking, Corporate banking, SME business
Sberbank banka d.d Slovenia 12 Retail banking, Corporate banking, SME business
Sberbank Srbija a.d. Beograd Serbia 33 Retail banking, Corporate banking, SME business
PJSC VS Bank Ukraine 38 Retail banking, Corporate banking, SME business
BIH Sarajevo Bosnia and Herzegovina 31 Retail banking, Corporate banking, SME business
BIH Banja Luka Bosnia and Herzegovina 27 Retail banking, Corporate banking, SME business

References[edit]

  1. ^ "Sberbank completes Volksbank acquisition". Budapest Business Journal. Retrieved 2017-08-03. 
  2. ^ "RPT-Fitch Rates Sberbank Europe AG 'BBB-'; Outlook Stable". Reuters. Wed Oct 02 07:11:23 UTC 2013. Retrieved 2017-08-03.  Check date values in: |date= (help)
  3. ^ "Sberbank Europe AG signed contract about sale of Slovak subsidiary | Sberbank Europe AG". www.sberbank.at. Retrieved 2017-08-03. 
  4. ^ "Global Finance Magazine - Best Banks & Financial Rankings". Global Finance Magazine. Retrieved 2017-08-03. 

External links[edit]