Sberbank / Miscellaneous
05.09.2012 12:11
Dissemination of a UK Regulatory Announcement, transmitted by
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The issuer is solely responsible for the content of this announcement.
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Sberbank and Cetelem (BNP Paribas Group) found a joint POS bank
September 5, 2012, Moscow - Sberbank, the leading Russian bank, and BNP
Paribas Personal Finance, the consumer lending division of the BNP Paribas
Group and leading provider of consumer loans in France and Europe, announce
the successful finalization of the creation of their joint Russian POS
(Point of Sale) finance bank.
Following the closing of the transaction on 31 August 2012, the joint bank
- BNP Paribas Vostok LLC - will operate under the Cetelem brand. Sberbank
has a 70% stake in the bank with the remaining 30% stake being owned by BNP
Paribas Personal Finance France, which owns the Cetelem brand.
The joint bank is headed by Andrey Lykov, former advisor to President and
Chairman of the Board of Sberbank.
The transaction has received all necessary approvals from Russian and
foreign regulatory authorities.
The joint bank will use a concept of 'responsible lending' developed by
Cetelem and supported by Sberbank that looks to provide simple and
transparent products with reasonable interest rates which will also benefit
the successful growth of the Russian POS market.
'Establishing the joint bank with Cetelem is the optimal way for Sberbank
to gain a presence in the POS finance market remained one of the few
significant financial markets where Sberbank did not work,' said Denis
Bugrov, Senior Vice President of Sberbank. 'As of today Cetelem occupies a
good position in the POS finance market with a 4.5% share, and the newly
launched bank will allow us to initiate a strong development programme
which will enable us to take up a leading position in the Russian POS
market.'
Alain Van Groenendael, Deputy CEO of BNP Paribas Personal Finance, also
commented: 'This major agreement on the fast-growing Russian market
confirms the partnership capabilities of BNP Paribas Personal Finance. This
joint venture with Russian n 1 banking actor consolidates the presence and
the business of our group in this country on the long term. Our joint bank
is now in a position to build more agreements with retailers and expand its
ability to finance Russian raising consumption.'
# # #
Sberbank of Russia
Corporate Affairs and Communications
Tel.: +7(495) 957 5721
media@sberbank.ru
Sberbank of Russia is the largest bank in Russia, accounting for about 27%
of the aggregate Russian banking assets and employing about 240,000 people.
Sberbank's founder and major shareholder is the Bank of Russia holding
57.6% of voting shares. The bank's other shareholders comprise more than
244,000 legal entities and individuals. The bank has the largest
countrywide branch network with 17 regional head offices and more than
19,000 branches as well as subsidiary banks in Kazakhstan, Ukraine and
Belarus, a branch in India, and representative offices in Germany and
China. In February 2012, the Bank acquired Volksbank International Group
with branches in nine countries of Central and Eastern Europe. In June
2012, Sberbank signed an agreement with Dexia to purchase 99.85% of shares
in Turkish DenizBank.
The bank holds the general banking licence No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru
About BNP Paribas Personal Finance
BNP Paribas Personal Finance is, within the BNP Paribas Group, the
specialist in personal loans via its activities in consumer credit and
mortgage lending. With more than 20,000 employees throughout 25 countries
over 4 continents, BNP Paribas Personal Finance is the leader in France and
in Europe.
BNP Paribas Personal Finance is capable of offering, through its brands,
Cetelem, Findomestic, AlphaCredit, a full range of personal credit products
via points of sale and car dealerships and direct-to-customers, via its
customer relations centres and Internet.
In addition to this, BNP Paribas Personal Finance has developed its
partnership activity, turning it into a business line in its own right,
based on its know how in marketing credit offers and built-in services
adjusted to partners' business and commercial strategy. In this way BNP
Paribas Personal Finance is the benchmark for brands in the worlds of
trade, services, banking and insurance. It is also the leading player in
the field of responsible lending.
For further information: www.bnpparibas-pf.com,
www.moncreditresponsable.com
Contacts
Pascal Roussarie Dmitry Borschevsky
Email: pascal.roussarie@cetelem.fr Email : dmitry.borschevsky@cetelem.ru
Tel : +33 1 46 39 91 30 Tel : +7 985 455 72 26
05.09.2012 EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
Fax:
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: MICEX, RTS
Category Code: MSC
LSE Ticker: SBER
Sequence Number: 1189
Time of Receipt: Sep 05, 2012 12:11:32
End of Announcement EquityStory.RS, LLC News-Service
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(END) Dow Jones Newswires
September 05, 2012 06:12 ET (10:12 GMT)
© 2012 Dow Jones News
