DJ PJSC Sberbank holds Supervisory Board meeting
Sberbank (SBER)
PJSC Sberbank holds Supervisory Board meeting
10-Nov-2020 / 20:20 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
November 10, 2020, Moscow
PJSC Sberbank holds Supervisory Board meeting
Sberbank announces the results of its Supervisory Board meeting.
Supervisory Board members noted the report on PJSC Sberbank's 9M20
performance results and Sberbank Group's 3Q20 Risk Report.
The meeting noted the information on the international business of PJSC
Sberbank and the results of inspections carried out by PJSC Sberbank's
Internal Audit Service over 9M20. Additionally, the work plan was agreed on
for PJSC Sberbank's Internal Audit Service for 2021.
The Supervisory Board noted the Report on the maturity of the compliance
system, the compliance risk management measures that have been taken and
those in the pipeline, as well as the Report on the Internal Control Service
operations in 2020.
The Supervisory Board heard information on the implementation status of
Sberbank's Development Strategy 2020; it approved Sber Group's Development
Strategy 2023, and resolved to prepare the materials regarding the
disclosure of Strategy 2023 by November 30, 2020.
The Supervisory Board approved the updated version of the Regulation on the
Dividend Policy of PJSC Sberbank, according to which Sberbank will maintain
its dividend payouts at 50% of the Group's IFRS net profit. These will be
adjusted for interest payments net of tax on the equity instruments other
than shares recorded in equity and subject to meeting some mandatory
requirements. The key mandatory requirements remain firstly, the maintenance
of the adequacy ratio of the Group's core IFRS capital at 12.5% or higher
and secondly, compliance with the Bank of Russia's capital adequacy ratios
taking into account the Risk Appetite approved by the Supervisory Board of
PJSC Sberbank.
# # #
Alexander Baziyan
Press office
media@sberbank.ru
PJSC Sberbank is Russia's largest bank and a leading global financial
institution. Holding almost one-third of aggregate Russian banking sector
assets, Sberbank is the key lender to the national economy and one of the
biggest deposit takers in Russia. The Government of the Russian Federation
represented by the Ministry of Finance of the Russian Federation is the
principal shareholder of PJSC Sberbank owning 50% plus one voting share of
the bank's authorized capital, with the remaining 50% minus one voting share
held by domestic and international investors. Sberbank has customers in 18
countries. The bank has a major distribution network in Russia with about
14,000 branches, while its international operations - subsidiary banks,
branches, and chapters - include the UK, US, CIS, Central and Eastern
Europe, India, China, and other countries. It holds general banking license
No. 1481 dd. August 11, 2015, from the Bank of Russia. Official websites of
the bank: www.sberbank.com [1] (Sberbank Group website), www.sberbank.ru
[2].
On September 24, 2020, Sberbank underwent a rebranding, offering financial
and non-financial services of the bank and Sberbank Group to individual and
corporate customers. Today, the Sber ecosystem is a raft of services for
life and daily assistance in handling pressing everyday issues for
individual customers and businesses. The Sber ecosystem website: www.sber.ru
[3].
ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070
Category Code: MSCM
TIDM: SBER
LEI Code: 549300WE6TAF5EEWQS81
Sequence No.: 87607
EQS News ID: 1147060
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 10, 2020 12:20 ET (17:20 GMT)
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