Sberbank / Miscellaneous
18.07.2013 13:05
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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July 18, 2013, Moscow - Sberbank has strengthened its strategic positions
in the car loan market by transferring its car loan business, generated
through partnerships with car manufacturers and car dealers, to Cetelem
Bank.
Cetelem Bank is a joint point-of-sale finance bank of Sberbank and BNP
Paribas Personal Finance, the consumer lending division of the BNP Paribas
Group. The bank is operating in the Russian consumer and car loan market
and specializes in point-of-sale lending - retail stores and auto dealers.
The transfer is a part of a large-scale internal reorganization within
Sberbank Group. Sberbank will continue issuing car personal loans at its
branches and the car loan partnership programs with car manufacturers and
car dealers will be transferred from Sberbank to Cetelem Bank. This
specialization is part of the bank's retail strategy and will allow
Sberbank Group to upgrade its presence in the car loan market, an important
market for Sberbank.
Cetelem Bank is the best vehicle for Sberbank's ambitious growth plans. It
specializes in point-of-sale lending and successfully combines experience
in the Russian market with the innovative technologies of BNP Paribas
Personal Finance. For its first ten months of operation, the joint bank
showed solid results: it more than doubled its POS outstanding and
multiplied almost by 4 its personal car loan outstanding. In accordance
with the terms of the transaction, Sberbank will increase its stake in
Cetelem Bank in 2013 from 70% up to 74% leaving the governance unchanged.
After three years, Sberbank has an option to increase its stake in the
Cetelem Bank up to 80%.
The switch from Sberbank to Cetelem Bank will be done by the end of this
year and executed smoothly in order to respect the partners' and clients'
interests. The car loan partnership programs transferred to the Cetelem
Bank platform will increase Sberbank Group's share in the car loan market.
All partners and clients will receive guaranteed quality services from
Cetelem Bank.
Denis Bugrov, Member of the Board, Senior Vice President, Sberbank: 'The
current market share of Sberbank Group in the car loan market is about
13.9%. We plan that with the transfers of the car loan partnership programs
to Cetelem Bank, Sberbank will increase this figure considerably. The
transfer will support credit sales, one of the main drivers for the Russian
car market. This will make loans more accessible to the public and will
increase not only the share of cars sold on credit in Russia, but also the
car market'.
Thierry Laborde, CEO of BNP Paribas Personal Finance: 'By transferring all
Sberbank's POS car loan activity to Cetelem Bank, the business portfolio of
the JV will significantly grow compared to what was initially planned. This
strategic project will deliver additional revenue in the next 5 years to
BNP Paribas Personal Finance in Russia. This new development is the
testimony of BNP Paribas Personal Finance's know-how in finance on the
point of sale and partnership with distributors and shows the satisfaction
and trust shared by both shareholders about Cetelem.'
Andrey Lykov, CEO, Cetelem Bank Llc: 'Cetelem Bank has clear advantages in
the car loan market. We operate on a modern instant credit decision
technology in the dealership. Our clients get best in class services
including simple and transparent client products and comprehensive
consulting as well as a wide range of repayment channels. Our partners can
rely on an individualized approach, diverse forms of cooperation in issuing
car loans, tailor-made credit solutions and services'.
***
Sberbank of Russia is the largest bank in Russia and holds almost one-third
of aggregate Russian banking sector assets. 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. The rest of the
shares are held by international and domestic investors. More than 100
million individual customers bank with Sberbank and about 1 million of
businesses. The Bank has the largest distribution network in Russia with
more than 18,000 offices as well as subsidiaries in 20 countries including
the CIS, Central and Eastern Europe and Turkey.
The Bank holds the general banking license No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru.
For further information: Alexander Baziyan - tel. +7(495) 957 5721,
media@sberbank.ru
***
Cetelem Bank Llc offers a wide range of consumer lending products to its
customers that includes personal loans, auto loans, credit cards and cash
loans. Products are available in Cetelem Bank's points of sale - retail
stores and auto dealers. Cetelem Bank is constantly expanding its
geographical presence. Currently the bank operates across 67 regions of
Russia with a workforce of over 5,500 employees.
The Bank holds license No. 2168 issued by the Bank of Russia.
The official website is www.cetelem.ru.
For further information: Marina Bondarenko - tel. +7 (926) 566 5907,
marina.bondarenko@cetelem.ru
***
BNP Paribas Personal Finance is the leader in France and in Europe for
personal loans via its activities in consumer credit and mortgage lending.
A 100% subsidiary of the BNP Paribas Group, BNP Paribas Personal Finance
has more than 16,000 employees and operates in over 20 countries.
Under brands including Cetelem, Findomestic, and AlphaCredit, the company
offers a full range of personal credit products at points of sale and car
dealerships and directly to consumers through its customer relations
centers and the Internet. BNP Paribas Personal Finance has added an
insurance and savings offering for its clients in France and in Italy.
BNP Paribas Personal Finance has developed an active partnership strategy
with retailers, web merchants and financial institutions (banks and
insurance companies), based on its experience with marketing credit offers
and integrated services tailored to partners' business and commercial
objectives. It is also a leading player in the field of responsible lending
and financial education.
For further information: Mathilde Donovan - tel. +33 1 46 39 15 88,
mathilde.donovan@bnpparibas-pf.com
18.07.2013 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: Frankfurt in Open Market (Entry Standard) ; MICEX, RTS
Category Code: MSC
LSE Ticker: SBER
Sequence Number: 1538
Time of Receipt: Jul 18, 2013 13:05:19
End of Announcement EquityStory.RS, LLC News-Service
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(END) Dow Jones Newswires
July 18, 2013 07:05 ET (11:05 GMT)
