Sberbank to create new headquarters

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Sberbank (SBER) 
Sberbank to create new headquarters 
 
09-Nov-2018 / 16:28 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer / publisher is solely responsible for the content of this 
announcement. 
 
9 November 2018, Moscow 
 
Sberbank is carrying out a dedicated programme to optimise its real estate 
portfolio in all regions of presence in order to increase the efficiency of 
business operations. This programme seeks to reduce operating costs, enhance 
employees' labour conditions, and cut the time spent travelling between 
offices. 
 
Under the programme, Sberbank has decided to bring together the key 
divisions of its headquarters at a single location. In connection with this, 
a Sberbank subsidiary and International Centre JSC have signed a contract on 
the acquisition of an office complex on Kulneva Street, opposite Moscow City 
MIBC, with an area of over 300,000 square metres. The complex is made up of 
three buildings on a single land plot. The construction of two of the 
buildings (41-storey and 47-storey) is incomplete. 
 
Sberbank Group employees currently work at more than 40 office facilities 
(both under ownership and leased) across Moscow. This project will help 
reduce real estate maintenance costs by freeing up more than 100,000 m2 of 
office space, and significantly lower logistics expenses. In addition, 
coordinating work according to the principles of Agile requires interacting 
divisions to be located at a single venue. This means that the project will 
increase the efficiency of all project teams. 
 
The decision was made in favour of the Kulneva Street complex due to its 
convenient location and highly developed infrastructure, favourable pricing, 
good transport access, the characteristics of the complex itself, and the 
fact that Sberbank Group's Agile Home office building is located nearby at 
32 Kutuzovsky Avenue. 
 
The bank has put together detailed strategies on how to use the real estate 
properties that will be freed up by the relocation, which include the 
possibility of selling or leasing on the open market the properties that it 
owns, and terminating lease contracts for the others. 
 
Relocation to the new complex will take place in stages, with a completion 
date of late 2021. 
 
Stanislav Kuznetsov, Deputy Chairman of the Executive Board of Sberbank: 
 
"Over the last two years, our business processes have undergone significant 
change and we have transitioned to Agile. This new approach means that we 
have more demanding requirements in terms of productivity and efficiency, 
division interaction principles, and organising our workspace. Consolidation 
of the bank's team at a single location is fully in line with the task of 
creating the Sberbank ecosystem. Taking into account the fact that we 
already use the President Plaza and Poklonka Place business centres, the 
acquisition of this complex will allow us to create a unified HQ - a 
so-called Sberbank City - for more than 23,000 of our employees." 
 
For enquiries: 
Sberbank of Russia 
Investor Relations 
[phone] 
[e-mail] 
 
ISIN:          US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 
Category Code: MSCH 
TIDM:          SBER 
LEI Code:      549300WE6TAF5EEWQS81 
Sequence No.:  6486 
EQS News ID:   743997 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

November 09, 2018 10:28 ET (15:28 GMT)