Sberbank annual report analysis. Position of the joint stock company in the industry
01/15/16. De Facto - Sberbank calculated the results of the past year using internal methods.
Key facts from December 2015:
- The influx of client funds for the month showed a historical maximum, amounting to 1.4 trillion rubles:
The growth rate of funds of individuals exceeded 9%, their volume increased to 10.9 trillion rubles,
The growth rate of funds of legal entities exceeded 7%, their volume reached 6.7 trillion rubles.
The volume of funds raised from the Bank of Russia and the Federal Treasury was reduced by 0.5 trillion rubles.
The bank's net profit for December exceeded 33.8 billion rubles.
Deputy Chairman of the Board of Sberbank Alexander Morozov:
“In difficult conditions in 2015, the bank earned a profit excluding events after the reporting date in the amount of 236.3 billion rubles, which amounted to 76% of the net profit of 2014. By the end of the year, Sberbank managed to reduce the gap from the results of 2014 due to the consistent implementation of the cost reduction program, as well as the repayment of government funding in the amount of 3 trillion rubles.”
Analysis of balance sheet and income statement items for 2015 relative to 2014:
interest income increased by 21.3%, interest expenses increased by 59.5%; net interest income decreased by 11.1%;
commission income not related to lending increased by 17.0%, net commission income increased by 4.4%;
operating income before total provisions decreased by 9.2%;
expenses for creating total reserves amounted to 397.6 billion rubles compared to 397.9 billion rubles a year earlier;
operating expenses decreased by 1.0%;
profit before income tax amounted to 283.9 billion rubles compared to 394.6 billion rubles a year earlier;
net profit amounted to 236.3 billion rubles excluding events after the reporting date versus 311.2 billion rubles taking into account events after the reporting date a year earlier.
Comments:
The bank's net interest income for 2015 amounted to 763.2 billion rubles. During the year, the bank gradually restored its volume: at the end of the 1st quarter the gap from the previous year was 27.9%, and at the end of the year 11.1%.
Interest income increased by 21.3% due to an increase in the volume of loans to customers and the profitability of loans to legal entities.
Interest expenses increased by 59.5% due to an increase in interest rates in the market and an increase in the volume of attracted client funds. The growth of interest expenses throughout the year slowed down due to the consistent reduction of the key rate by the Bank of Russia, as well as Sberbank’s reduction in government funding.
Net commission income increased by 4.4%. The bank increases net commission income, despite a decrease in commission income from lending operations and bancassurance. The increase in commission income not related to lending at the end of the year amounted to 17.0%. The largest amount of commission income comes from transactions with bank cards.
Net income from currency revaluation and trading operations in financial markets amounted to 68.6 billion rubles compared to 81.1 billion rubles for the previous year.
Operating expenses decreased by 1.0% due to the bank's implementation of a cost optimization program. Administrative expenses were reduced by 4.7% over the year.
Expenditures on total reserves amounted to 397.6 billion rubles, which is similar to the amount of the previous year. Expenses on reserves in December amounted to 27.4 billion rubles and were mainly due to the creation of reserves for foreign currency loans as a result of the weakening of the ruble against major currencies. The Bank continues to create reserves for possible losses in order to cover existing credit risks, based on the requirements of the Bank of Russia. The reserves created on the balance sheet exceed overdue debt by 1.9 times.
Profit before income tax amounted to 283.9 billion rubles compared to 394.6 billion rubles in 2014. Net profit amounted to 236.3 billion rubles excluding events after the reporting date versus 311.2 billion rubles taking into account events after the reporting date in 2014.
Assets in December increased by 1.3 trillion rubles and exceeded 23 trillion rubles. A significant part of the increase was due to the revaluation of the currency component of balance sheet items. Overall, assets increased by 5.6% for the year.
In December, the bank provided loans to corporate clients in the amount of more than 1.2 trillion rubles, a total of 6.8 trillion rubles for the year. The balance of the loan portfolio in December increased by 417 billion rubles, or 3.5%, largely due to currency revaluation. The volume of the portfolio as of January 1, 2016 is 12.3 trillion rubles.
About 160 billion rubles were issued to private clients in December, a total of more than 1.2 trillion rubles for the year. The loan portfolio in December increased by 16 billion rubles or 0.4% and as of January 1, 2016 amounted to more than 4.1 trillion rubles. The share of housing loans in the portfolio structure increased over the year from 48% to 54%.
The share of overdue debt in the customer loan portfolio decreased by 0.1 percentage points in December. up to 3.3%. The level of overdue debt at Sberbank remains significantly lower than the average for the banking system (6.6% as of December 1, 2015).
The volume of investments in securities in December increased by 265 billion rubles. or by 13.1% mainly due to the acquisition of corporate Eurobonds and exchange rate revaluation. The balance of the portfolio as of January 1, 2016 amounted to 2.3 trillion rubles.
Individual funds in December increased by 908 billion rubles or 9.1% (excluding currency revaluation, the growth rate was 6.7%). As a result, the balance of funds of individuals by January 1, 2016 approached 10.9 trillion rubles. In just one year, funds from individuals increased by 27.5% (a year earlier – by 5.9%).
Funds of legal entities in December increased by 449 billion rubles or 7.1% due to the influx of ruble funds into deposits and due to the revaluation of foreign currency funds. In general, over the year, funds from legal entities increased by 32.9% and amounted to 6.7 trillion rubles.
The record influx of ruble client funds in December allowed the volume of funds attracted from the Bank of Russia to be reduced to a minimum. The share of these funds, excluding subordinated debt, in the bank’s liabilities decreased in December from 2.7% to 1.3% (as of January 1, 2015 – 15.2%). In just one year, Sberbank returned funds to the Bank of Russia and the Federal Treasury in the amount of 3.0 trillion rubles.
The values of the bank's base and fixed capital coincide due to the lack of sources of additional capital and, according to operational data as of January 1, 2016, amount to RUB 1,753 billion. The total capital as of the same date is 2,679 billion rubles
In December, the total capital increased by 39 billion rubles. The main factor in the growth of total capital was earned profit.
N1.1 - 8.0% (minimum value established by the Bank of Russia, 5.0%)
N1.2 - 8.0% (minimum value established by the Bank of Russia, 6.0%)
N1.0 - 12.1% (minimum value taking into account the requirements of the Law “On Deposit Insurance” 10.0%).
Reference:
Sberbank draws the attention of users to the fact that the indicators in this press release are calculated using the internal methodology of Sberbank PJSC. Data as of January 1, 2015 take into account events after the reporting date. Data as of January 1, 2016 do not take into account events after the reporting date.
“Annual Report of PJSC Sberbank for 2015 Approved by the Supervisory Board of PJSC Sberbank Minutes No. 16 dated April 12, 2016 Confirmed by the Audit Commission...”
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Approved by the annual General Meeting
shareholders of PJSC Sberbank
Protocol No. 29 of 06/01/2016
Annual report
PJSC Sberbank
for 2015
Approved by the Supervisory Board
PJSC Sberbank
Protocol No. 16 of 04/12/2016
Confirmed by the Audit Commission
PJSC Sberbank
RAP, unconsolidated data April 2016
Introduction
Position of the joint stock company in the industry
Corporate business
Block "CIB"
Block "Corporate Business"
Raising funds from corporate clients
5. Retail business
Lending to private clients
Raising funds from private clients
Sources of non-interest income
Development of remote service channels
New service model at VSP
Retail sales model
Quality of service
Unified Distributed Contact Center
6. Transactions with your own securities portfolio. Investments
7. Risk management
Integrated Group Risk Management
Credit risks
Liquidity risk
Country risk
Interest and currency risks of the banking book
Operational risk
8. Staff
9. Development of information technology
10. Administrative and economic activities
11. Department of cash and collection services
12. Correspondent relations
13. Security
14. Organizational structure of Sberbank
15. Development prospects
16. Report of the Supervisory Board on Corporate Governance
Message from the Chairman of the Supervisory Board S.M. Ignatieva
Corporate governance system
General Meeting of Shareholders
Supervisory Board
Committees of the Supervisory Board
Corporate Secretary
Executive bodies of the Bank
Control and reporting
Remuneration of the Supervisory Board and management
Major deals
Interested party transactions
Assessment of the corporate governance system
Share capital
Dividend payment report
Interaction with shareholders and investors
Application
Introduction
1. Introduction This report is a report of Sberbank1 PJSC on the results of the Bank’s development in 2015 in priority areas of activity.
The Bank's priority areas of activity are:
Operations with corporate clients: servicing settlement and current accounts, opening deposits, providing financing, issuing guarantees, servicing export-import transactions, collection, conversion services, money transfers in favor of legal entities, etc.
Transactions with retail clients: accepting funds as deposits and securities of the Bank, lending, servicing bank cards, transactions with precious metals, purchase and sale of foreign currency, payments, money transfers, storage of valuables, etc.
Transactions in financial markets: with securities, derivative financial instruments, foreign currency; placement and attraction of funds in the interbank market and capital markets, etc.
The bank operates on the basis of the General License for banking operations with funds in rubles and foreign currency No. 1481, issued by the Bank of Russia on August 11, 2015. In addition, Sberbank has licenses to carry out banking operations to attract deposits and place precious metals, other operations with precious metals, licenses of a professional participant in the securities market to conduct brokerage, dealer, depositary activities, as well as securities management activities.
This Report has been compiled in accordance with the legislation of the Russian Federation
Federations, including:
Federal Law of April 22, 1996 N 39-FZ “On the Securities Market”, Federal Law of December 26, 1995 N 208-FZ “On Joint-Stock Companies”, Regulations on additional requirements for the procedure for preparing, convening and holding a general meeting of shareholders approved by the Order FSFM of Russia 02.02.2012 No. 12-6/pz-n, Regulation of the Bank of Russia dated 30.12.2014 No. 454-P “On the disclosure of information by issuers of equity securities”, taking into account the changes introduced by the Directive of the Bank of Russia dated 16.12.2015 N3899-U2.
The report was compiled taking into account the provisions of the Corporate Governance Code recommended for use by the Bank of Russia on April 10, 20143.
The report is compiled on the basis of published reporting forms (Russian accounting rules, unconsolidated data), as well as internal forms of statistical reporting of the Bank. Events after the reporting date as of January 1, 2015 and January 1, 2016 are taken into account.
The Bank's annual accounting (financial) statements for 2015 are posted on the Internet on the Sberbank website www.sberbank.com.
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The main factors driving the growth of the Bank's assets in 2015 were loans to legal entities and individuals, as well as net investments in securities and other financial assets available for sale. The growth of balance sheet items was affected by a positive revaluation of their currency component due to the weakening of the ruble against major foreign currencies: the US dollar increased over the year by 29.5% to 72.9 rubles/dollar. USA, euro exchange rate – by 16.6% to 79.7 rubles/euro.
Capital, calculated according to Bank of Russia Regulation No. 395-P, increased by RUB 347 billion in 2015. and amounted to 2,658 billion rubles. The main factors that increased the capital were earned net profit and the inclusion in additional capital of a subordinated loan from the Bank of Russia in the amount of 200 billion rubles, attracted in 2014 under Federal Law No. 173-FZ6 to finance active operations.
In December 2015, the Bank also included a subordinated loan from NPF7 into its capital. Capital dynamics were also affected by the Bank's gradual transition to Basel III requirements, which is being carried out over a period of 5 years for some calculation items.
Risk-adjusted assets in 2015 increased by RUB 2,534 billion. The impact of the ruble devaluation was partially mitigated by the Bank of Russia’s permission to use a preferential rate for foreign currency assets reflected in accounts before December 31, 2014.
Sberbank's total capital adequacy ratio (N1.0) as of January 1, 2016 was 11.9%, having increased by 0.3 percentage points over the year.
Sberbank earned a pre-tax profit of RUB 306.9 billion. (in 2014 429.2 billion rubles) Profit after tax amounted to 218.4 billion rubles. (in 2014 311.2 billion rubles). The main factor behind the decline was net interest income, which decreased at the beginning of the year due to a sharp increase in interest rates in the market and large volumes of funds raised. By the end of the year, Sberbank managed to reduce the gap from the results of 2014 mainly due to the repayment of government funding, the development of commission transactions, and the consistent implementation of the cost reduction program.
Here and further in the tables, the given indicators may differ from the calculated ones due to rounding of data. Capital is calculated in accordance with Regulation No. 395-P “On the methodology for determining the amount of equity (capital) of credit institutions (Basel III)”, approved by the Bank of Russia on December 28, 2012 , effective as of the corresponding reporting date (hereinafter referred to as Bank of Russia Regulation No. 395-P) Federal Law of October 13, 2008 No. 173-FZ “On additional measures to support the financial system of the Russian Federation”
Non-state Pension Fund of Sberbank Main financial results of 2015
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Assets for 2015 increased by 4.4% and amounted to RUB 22.7 trillion. Their growth was mainly due to an increase in the customer loan portfolio. Net loan debt of clients increased by 6.2% over the year and reached a value of about 16.9 trillion rubles. Over the past year, the volume of loans issued to corporate clients amounted to about 6.8 trillion rubles. More than 1.2 trillion rubles were issued to private clients over the year. The growth of assets was also affected by an increase in net investments in securities, which occurred mainly due to the acquisition of securities in the portfolio for sale and the effect of currency revaluation.
The decrease in the volume of cash occurred mainly in January and is associated with a decrease in demand for cash due to a decrease in the volatility of the ruble exchange rate.
Various sources of resources were used to fund active operations. Below is the dynamics of attracted funds from clients.
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Main financial results of 2015 The volume of funds raised from both corporate clients and individuals increased both for ruble accounts and for accounts in foreign currency. Despite the persistence of geopolitical tensions in 2015 and the remaining closed external markets, the Bank significantly reduced its dependence on government funding (the volume of Bank of Russia funds on the Bank’s balance sheet for the year decreased from RUB 3.5 trillion to RUB 0.8 trillion) due to attracting additional funds from clients. The influx of customer funds also allowed the Bank to repay a number of expensive foreign currency borrowings from foreign markets ahead of schedule.
Taking into account the ongoing sanctions and the unstable macroeconomic situation, in order to reduce liquidity risks, the Bank significantly increased the volume of liquidity reserves8 mainly due to active work in 2015 to increase the collateral mass within the framework of Bank of Russia Regulation No. 312-P9. In addition, the Bank is constantly working to expand the list of refinancing instruments.
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Operating income before provisions amounted to RUB 1,221 billion. versus RUB 1,319 billion a year earlier.
Interest income increased by 20.3%. Loans to legal entities brought 57% of interest income, their growth was due to an increase in the volume and profitability of loans. Loans to individuals brought 32% of interest income, their growth was ensured by increasing volumes of retail lending, mainly mortgage lending.
The Bank’s ability to attract funds from the Bank of Russia within the framework of existing refinancing instruments of the Bank of Russia Bank of Russia Regulation No. 312-P dated November 12, 2007 “On the procedure for the Bank of Russia to provide loans to credit institutions secured by assets or guarantees”
Main financial results of 2015
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The bank increased net commission income, despite a decrease in commission income from lending operations and bancassurance. The main growth was provided by transactions with bank cards and acquiring due to the growth of issued cards and an increase in the number of clients receiving acquiring services from Sberbank. The increase in commission expenses is associated with an increase in the volume of transactions with bank cards, which affects the volume of payments in favor of payment systems.
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Operating expenses increased by 3.5%. The low growth rate of operating expenses is ensured by the implementation of a cost optimization program. The bank optimized its procurement system, including information technology, and increased the efficiency of use of real estate.
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In 2015, the Bank’s expenses for creating reserves amounted to RUB 294.4 billion, which is close to the previous year’s volume. In the difficult overall economic situation, Sberbank maintains asset quality at a stable level. Part of the created reserves is associated with the growth of the portfolio, and not its deterioration, another part is associated with the weakening of the ruble, which required additional creation of reserves for foreign currency loans without deteriorating their quality. The share of non-performing loans in Sberbank remains twice that of the Russian banking sector.
Sberbank earned a pre-tax profit of RUB 306.9 billion. (in 2014 429.2 billion rubles) Profit after tax amounted to 218.4 billion rubles. (in 2014 311.2 billion rubles)
Position of the joint stock company in the industry
3. Position of the joint-stock company in the industry In 2015, the dynamics of the banking markets were affected by the economic recession in the Russian Federation, accompanied by the devaluation of the ruble, rising inflation and the deterioration of most macroeconomic indicators. The situation was aggravated by the cumulative effect of negative external factors - the fall in world oil prices and the high level of geopolitical tension.
The devaluation of the ruble, which amounted to 29.5% against the US dollar, neutralized almost all growth in most banking markets. Thus, the assets of the banking system increased in nominal terms by 6.9%, and without taking into account currency revaluation they decreased by 1.6%. For comparison, in 2014, bank assets increased by 35.2%.
The banking system's loan portfolio grew by 8.2%, which is significantly less than a year ago, when the increase was 25.4%. At the same time, multidirectional dynamics were observed: the volume of loans to enterprises increased by 13.4% (a year ago an increase of 30.3%), the portfolio of retail loans decreased by 5.7% (a year ago an increase of 13.8%).
Credit risks in the banking system have increased significantly. The level of overdue loans increased from 4.6% to 6.5%. At the same time, the level of bad debts of the population increased from 5.9% to 8.1%, of enterprises - from 4.1% to 6.1%. The increase in the volume of overdue loans by enterprises and households in 2015 amounted to 54.3%.
The increase in loan reserves amounted to 30.8%, which is lower than the increase in the previous year (43.1%). In the context of the deterioration of the financial condition of banks and increasing pressure on capital, the coverage of overdue debt by reserves decreased from 1.8 to 1.5 times.
Deposits from the population remained the main source of resources, increasing by 25.2% over the year, or excluding currency revaluation by 16.7%. In 2014, deposits increased by 9.4%. Funds from legal entities increased by 14.1%, a year earlier – by 32.2%.
The influx of customer funds during the stagnation of the lending market allowed banks to reduce the volume of refinancing from the regulator by 42.3%. A year earlier, funds raised from the Bank of Russia by the banking sector increased by 109.2%.
At the end of 2015, the balance sheet profit of the banking system amounted to 192.0 billion rubles, which is significantly less than the result for 2014 – 589 billion rubles. Of the operating credit institutions, 25% of banks were unprofitable in 2015 (a year earlier, 15%).
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The calculation was made using Sberbank’s internal methodology based on data from the Bank of Russia Corporate business
4. Corporate business
Main achievements of 2015 in the field of working with corporate clients:
In the reporting year, Sberbank attracted a record amount of funds from corporate clients. The increase amounted to 1.5 trillion rubles, and the balance reached 7.4 trillion rubles.
Work to attract funds from corporate clients was important, since during the year the Bank replaced expensive funds from the Bank of Russia with client funds.
The bank has introduced innovative online services that make it easier for clients to conduct business: registering a business, submitting reports to the Federal Tax Service and other authorities electronically through Sberbank systems, and reserving a current account.
The vast majority of transactions by Sberbank clients are carried out in remote channels: 97% of transactions are carried out through the Sberbank Business Online service, 90% of clients use the self-collection service in Sberbank self-service devices (amount up to 100 thousand rubles), 98% of corporate client deposits are opened remotely.
All corporate clients of the Bank now have the opportunity to make payments to counterparties to accounts in Sberbank seven days a week in 17x7 mode - the current day from
6.00 to 23.00, including weekends and holidays.
Technical support for services for companies was evaluated at the CNews AWARDS competition, where Sberbank won in the category “For organizing technical support for corporate clients” at the end of 2015.
Sberbank has launched a remote banking system for financial institutions, Sberbank FinLine, a service for managing accounts and payment documents online with support for SWIFT formats.
Sberbank is one of the key suppliers of financial resources to the Russian economy. In 2015, Sberbank issued loans to corporate clients in the amount of 6.8 trillion rubles. The portfolio of loans to legal entities increased by 5.2% to RUB 12.2 trillion. Foreign currency loans occupy about 37% of the portfolio of loans to corporate clients. The bank actively interacts with clients of different sizes and different forms of ownership. The segment structure of the portfolio is presented below.
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Corporate business Block “CIB”
Working with major clients In 2015, a target business model for the CIB block was developed. The criteria for classifying clients into segments have changed: the criterion for the holding’s annual revenue has been increased from 15 to 30 billion rubles. In this regard, some of the clients of the CIB block are being transferred to the Corporate Business block.
The new system of interaction with the client depends on the potential in product sales and profits. Customer service teams continue to work. Sales campaigns have been launched for 9 products: payroll projects, trade finance and documentary operations, foreign economic activity, conversion operations, acquiring, collection, turnover on correspondent accounts, liabilities, MB&A products.
The position of CIB operational manager was introduced as a single point of contact between the client and the bank on all operational issues. The procedure for handling customer requests has been changed: all requests are now processed in one center. The HEPL.CIB service supports client managers in all non-standard and controversial operational situations, which increases the efficiency of processing requests and allows clients to receive individual answers to their requests.
The Sberbank CIB syndicated lending team, together with the Association of Regional Banks of Russia, developed and presented to the banking community standard documentation on syndicated lending in Russian law. In the current economic conditions, a syndicated loan allows for major restructuring, including with the use of government guarantees, as well as long-term financing of large investment projects together with other banks.
In 2015, the Bank introduced new products that are in high demand among customers. Among them are Key+, domestic letter of credit with early payment and others. The direction of non-ferrous metals in commodity and raw materials operations was launched, a number of transactions were concluded with zinc, copper, nickel, and aluminum.
The infrastructure for lending in yuan has been created. Trade finance cooperation agreements were signed with leading Chinese banks worth more than $4.5 billion.
It has become a regular practice for Sberbank Investment Research to hold meetings with clients of regional banks. In 2015, the conference “Metallurgy and Mining Industry. Fertilizer production”, which brought together more than 200 representatives of business, government agencies and industry experts on one discussion platform. Despite challenging macroeconomic conditions, CIB's customer satisfaction index increased by 1 point to 78.5 in an independent survey compared to the previous year.
Among the innovations in the technological field, we can highlight the launch by the Department of Global Markets of a brokerage platform on iPad and an options trading system on the ORC platform. Automation of all requirements of EMIR, the European regulation of the derivatives market, has been completed, which gives Sberbank access to this market.
Corporate business The Department of Trade Finance and Correspondent Relations has begun pilot operation of the Sberbank FinLine remote banking system for financial institutions. 11 financial institutions took part in the pilot. The system provides a service for managing accounts and settlement documents in real time with support for SWIFT formats.
Sberbank continues to optimize the structure of its corporate business.
There is a transition to the target legal and organizational structure of the CIB.
A CIB vertical has been formed in the regions; verticals have been identified for lending, real estate financing and monitoring of credit operations. The quality of project management in the CIB block has been significantly improved - control over project implementation has been brought into line with Sberbank standards. Due diligence of CIB international offices was carried out.
Operations in global markets The main achievements in the area of trading operations in the foreign exchange market in 2015 are related to the implementation of large conversion transactions with corporate clients in the amount of more than $1 billion without affecting the exchange rate, the launch of a new forward product with an open date, the optimization of operations, made through the Visa payment system, as well as with the launch of pilot operation of the Sberbank markets e-commerce platform.
Transactions with currency and interest rate derivatives and dynamic management of counterparty credit risk were developed.
New products launched:
a loan with a built-in quanto-swap, a guarantee of participation in the transaction and a security deposit.
Sberbank was active in the money market. The main market trend in 2015 was a reduction in the volume of debt of credit institutions in rubles and US dollars to monetary policy authorities, while refinancing occurred primarily due to the growth of short-term foreign currency liabilities of banks. Against this background, Sberbank increased its reverse repo portfolio from $1.5 billion to $3 billion.
New products have also been implemented that allow:
Place US dollars and euros through repo transactions on the Moscow Exchange both on the interdealer market and through a central counterparty;
Carry out securities lending operations without collateral, which allows the Bank to attract additional liquidity;
Conclude repo transactions with a floating rate.
In terms of trading operations in the commodity markets, a number of landmark transactions for the Bank were concluded, including the world's largest hedging transaction for precious metals, the first physical prepayment transaction for oil, and the Bank's first hedging transactions with zinc, copper, nickel and aluminum.
The direction of trading in debt instruments is developing through working with clients to identify cross-interest in securities and through correct positioning in the market when spreads are narrowing and profitability is falling.
The significant events of 2015 were:
A major transaction to acquire OFZ banks with a floating coupon as part of a syndicate of banks;
Corporate business
A new product is exchange-traded bonds with a floating par value, where Sberbank acted as one of the underwriters of the debut issue of OFZ with a par value linked to inflation;
The first transaction to purchase a credit note for a loan on the balance sheet of Sberbank Switzerland;
Registration by the Moscow Exchange of Sberbank's structured exchange-traded bonds program under Russian law: 34 series of bonds with a total par value of 50 billion rubles.
Market conditions in the context of external restrictions did not allow for a rapid increase in turnover in brokerage operations in shares and derivative instruments on shares. Under these conditions, the Bank developed a technological platform for trading derivative instruments on shares: the ORC system was launched, which automates derivative trading strategies, allowing to reduce transaction costs and increase the speed of order execution. Integration with the Turkish broker Deniz Yatrim, a subsidiary of DenizBank, has been completed, which has expanded the product line and made Sberbank a broker focused not only on Russia.
Business is successfully developing in the equity and debt capital markets - ECM and DCM. In 2015, Sberbank CIB took the leading position in organizing market placements of ruble bonds according to Cbonds. The bank entered a new segment of international DCM – debt management. In addition, the Bank returned to the Eurobond placement market, successfully placed the first issue of OFZ with nominal indexation in accordance with inflation, closed the first “rights issue” transaction and received the first international mandate in the ECM market.
The Cyprus office of Sberbank CIB was awarded two prestigious awards in 2015:
Cyprus Investment Promotion Agency (CIPA) Award for significant contribution to strengthening the image of Cyprus as an international business center;
title of Investment Advisor of the Year in Cyprus as part of the M&A Awards 2015 competition, organized by the British publication Finance Monthly.
Trade finance The area of trade finance continues to develop successfully. In 2015, the volume of transactions carried out by Sberbank Group in the field of trade finance and documentary business amounted to more than $29 billion, including Sberbank PJSC - over $18 billion.
The volume of transactions using domestic Russian letters of credit reached a record value of 288 billion rubles in 2015, exceeding the previous year’s figure by 73%.
In 2015, Sberbank released a new product to support Russian business, “Domestic “uncovered” letter of credit with early payment.” For this product, the Bank is the source of financing for the trade transaction and provides the seller/contractor with the opportunity to receive payment before the end of the deferment period provided for by the contract and the terms of the letter of credit. This product is available to Russian companies purchasing or supplying goods/services in the Russian Federation.
The continued strengthening of ties between Russia and China opens up vast new opportunities for trade finance. Sberbank has signed a number of agreements with leading financial institutions in China with limits totaling corporate business in excess of 12 billion yuan. Cooperation with Chinese banks is carried out across the entire line of Sberbank trade finance products. Sberbank’s new product – post-financing of letters of credit in yuan – is actively gaining momentum. Sberbank has issued about 150 letters of credit in yuan for clients from many regions of Russia.
Supporting growing demand from Russian exporters of capital goods, Sberbank has formed one of the largest portfolios of transactions using insurance coverage of the Russian Agency for Export Credit and Investment Insurance (EXIAR), which as of January 1, 2016 exceeded RUB 24 billion.
Active cooperation continues with a number of foreign export credit agencies in Western and Eastern Europe, China and other countries. Negotiations are underway to expand the line of both long-term and short-term products with the support of export credit agencies in order to provide maximum support for transactions of Sberbank clients with foreign exporters. In June 2015, a Memorandum of Understanding was signed with the Italian export credit agency SACE.
Another important business area that entered a phase of active development in 2015 was Commodity Trade Finance – financing the supply of raw materials, which Sberbank is developing on the platform of a subsidiary bank in Switzerland. This product line is intended primarily for trading companies involved in trading oil, coal, metals, grain, etc. on the international market. The clients of Sberbank's subsidiary bank in Switzerland are already the world's largest traders, as well as leaders in Russian exports of these industries.
The volume of completed transactions in the CTF area, which mainly provides support for Russian exports, amounted to more than $480 million, which made it possible to increase the portfolio in this area of business by more than 3.5 times.
Sberbank traditionally receives high marks for its activities in the field of trade finance, documentary and settlement business both in Russia and on the international market. In 2015, Sberbank was recognized as the best bank in the field of trade finance in Russia and the CIS countries by leading international financial publications Global Finance and Trade & Forfaiting Review. Sberbank is also the leader in the market for settlements using domestic Russian letters of credit, according to a study by the Expert RA rating agency.
Block "Corporate Business"
Large and medium-sized businesses Sberbank continues to cooperate with corporate clients of large and medium-sized businesses and optimizes work in this segment. In general, this work is being transformed in several directions: the degree of penetration of digital processes is increasing, the operational function of employees is decreasing and is shifting to the field of consulting. The employee becomes not so much an operator, but rather an assistant and partner who can professionally advise the client on the correct solution to a business issue. This service model assumes the importance of personal contact, so the work of the contact center is changing, and remote client managers and product specialists are appearing.
Corporate business
A unified sales management system has been introduced for the entire vertical, covering the management functions of 900 managers of the VSP11 Corporate Business block, 180 regional managers, 80 heads of sales departments. The system unifies many processes at all levels and provides a unified business rhythm of planning and goal setting throughout the entire sales network.
The model of working with new corporate clients, created on the basis of the requests and wishes of the clients themselves, made it possible to make the first 100 days of cooperation with the Bank as transparent and comfortable as possible for the client. Fundamentally new stages included the procedure for mandatory acquaintance with the head of VSP and training clients in online services. Full compliance of the proposed model with the wishes of clients minimized the outflow of new clients.
The creation of client-product teams in working with medium and large businesses allows both new and existing clients to receive a range of banking services with dedicated specialists. Uniting employees on the basis of common goals makes it possible to replace the competitive interaction of Bank specialists with a coordinated movement towards maximum satisfaction of client needs. Forming a team for a permanent group of clients, rather than an individual transaction, provides clients with the highest possible level of service.
Sberbank is creating a line of products to allow clients easy access to the type of borrowed funds and instruments that are most suitable for them. Online lending is being launched, when the client will be able to request and receive a loan without visiting the bank.
Electronic guarantee and electronic factoring services have been introduced.
For medium, large and large businesses, we offer a cash management tool, which is essentially a treasurer's workplace. With its help, the client can manage his cash flows, control subsidiaries and branches, and ensure the current liquidity of holding companies.
Cooperation with government authorities In 2015, 1,434 lending agreements in the amount of RUB 397 billion were concluded with clients of the Regional Public Sector segment. In total, credit resources amounted to 882 billion rubles. The balance of outstanding loans from clients in this segment as of January 1, 2016 amounted to RUB 877 billion. According to the Bank of Russia, Sberbank's share in the lending market for regional government bodies of constituent entities of the Russian Federation and local governments as of January 1, 2016 was 74.9%.
Small and micro businesses Sberbank services 53% of active small and micro business clients. This is 1.18 million clients. In 2015, the Bank supplemented the line of services for clients with a new, unique on the market, comprehensive package “My Team”, including the services of a business assistant, lawyer, accountant, as well as unlimited cash management services: account maintenance, payments and cash acceptance at check. The bank is preparing to launch new non-financial services for clients.
Internal structural division Corporate business
The bank is working to make its clients' businesses more efficient. In particular, the Sberbank Analytics service has been developed, using which the client can practically abandon the financial director. In a convenient interface, the client will be able to analyze and control his activities: income and expenses, counterparties, cash gaps and much more.
The ability to select the most convenient channel for receiving consultations for a corporate client has been implemented, which is especially important during peak loads on the telephone line.
New channels of communication with clients are actively used:
feedback service on the Bank’s website and ordering a call back, online chat in Internet banking. At the annual FocusForum conference of the Vedomosti newspaper, Sberbank received a special prize “For Customer Focus” in a project to support corporate clients in the Contact Center. Sberbank also won in the category “Project of the Year for organizing technical support for corporate clients” at the CNews Awards ceremony.
Using the Small and Micro Business Client Development Model, which is based on mathematical models and allows to significantly improve the quality of targeted offers to clients, the Bank calculated the potential of each sales point, which was used in the business planning process for 2016.
Interaction with government agencies is one of the key processes for a Russian entrepreneur. Sberbank has created products that simplify this process and help entrepreneurs correctly build interaction mechanisms within the framework of Russian legislation. Sberbank clients have the opportunity to submit reports online to the Federal Tax Service and other regulatory authorities and pay taxes conveniently and on time. Work is underway to integrate Sberbank’s Internet banking with the taxpayer’s account on the website of the Federal Tax Service.
In addition, clients can find out in the application about various government programs to support business.
The Bank continues to interact with JSC Federal Corporation for the Development of Small and Medium Enterprises12. The cooperation agreement concluded with the SME Corporation allows the Bank to attract guarantees in the form of 1st quality category security for a wide range of loan products and bank guarantees for small and medium-sized businesses. Guarantees can cover up to 70% of the principal debt on the loan and can be attracted by SMEs in any constituent entity of the Russian Federation. In 2015, under the guarantees of the Corporation, SME Bank issued more than 2.5 thousand loans and guarantees worth more than 21 billion rubles. Sberbank's share in the total portfolio of guarantees of the SME Corporation at the end of 2015 was about 44%.
In 2015, the Bank issued loans to SMEs under the guarantees of regional guarantee organizations for a total amount of RUB 11.2 billion. in 73 constituent entities of the Federation.
Sberbank supports clients who have lost their partner bank. For clients of credit institutions whose banking license has been revoked by the Bank of Russia, special conditions apply: free account opening, free organization of services using the Sberbank Business Online system and 3 months of service under the “Basis” service package at a price of 1 ruble.
The “Business Environment Partnership Program” project, aimed at creating a channel for attracting Bank clients through partner agents, has reached the project stage. Further – SME Corporation, before changing the name – JSC “NDKO “Credit Guarantee Agency”
Corporate business power. At the end of 2015, more than 42 thousand transactions were completed, there were 200 partners in the affiliate network, the conversion to transactions was 42%. One of the key focuses for 2016
– creation of an aggregator platform for financial and insurance services on the market, connecting banks and insurance companies.
As part of the Business School project, 26 thousand entrepreneurs received access to educational programs for business, which included 170 video courses. More than 35 thousand
entrepreneurs from various regions, including the most remote corners of the country, took part in all-Russian educational seminars. The seminar speakers were business trainers, representatives of government bodies, and successful businessmen. Today, about 80 thousand entrepreneurs regularly receive information about new educational events and advice from leading market experts as part of special information digests. One of the key focuses for 2016 is the organization, on the basis of the School of Business, of Russia’s largest platform for distance learning for small companies, partnerships with leading business schools, incubators, and expert platforms.
Services for corporate clients The Bank strives to make interaction with clients convenient and simple, starting from the moment of opening a business. The bank provides the opportunity to register a business without a visit to the Federal Tax Service of Russia and reserve an account for the client in 3 minutes.
When reserving an account, the entrepreneur receives a number that can be used to conclude contracts, and within 5 days he must visit the Bank to provide documents. In development is a process that requires changes in legislation, when an account is not only reserved, but also opened without the client visiting the Bank. In order to strengthen its competitive position, the Bank has expanded the functionality of the service: accounts can be reserved within the framework of the implementation of the Federal Law of December 29, 2012 No. 275-FZ “On State Defense Order”.
Sberbank is systematically working to develop remote customer service, setting itself the task of making its main services mobile and remote. About 1.3 million clients are connected to the Sberbank Business Online service, and the mobile version has been downloaded by more than 427 thousand users. By the end of 2015, 98% of payments were made through Sberbank Business Online or its mobile application.
31% of all payments in the Russian Federation go through Sberbank. In 2015, the Bank began implementing settlement services for clients 24x7. By the end of the year, clients making payments electronically within the Bank had the opportunity to settle accounts with counterparties in the 17x7 mode, i.e. current day from 6.00 to 23.00, including weekends and holidays. The plans include mass connection of clients to this service and an increase in the availability of the service to 20x7.
At the beginning of 2015, the process of electronic document flow E-invocing was launched between the Bank and clients to provide invoices for the Bank’s services. By the end of the year, the share of invoices for the Bank's services sent to customers electronically using this service reached 85% of the total number of invoices issued by the Bank. A project has begun to carry out paperless transactions for corporate clients in Sberbank branches.
Since July 1, 2015, all regional banks offer companies a self-collection service. The service allows customers to deposit money into their account through self-service devices. In the 4th quarter of 2015, more than 300 thousand clients took advantage of this opportunity. As a result, the number of incoming transactions in bank branches with amounts up to 100 thousand rubles decreased by 2 times. In 2016, inter-branch payments will be launched, which will allow the client to deposit money through self-service devices into a current account opened with Sberbank anywhere in Russia.
In 2015, the Bank introduced an automated process for paying insurance compensation to depositors - individual entrepreneurs of bankrupt banks from the Deposit Insurance Agency fund. Sberbank began to take part in competitions to select banks authorized to make such payments, and from the beginning of 2016 began paying insurance compensation on the accounts of individual entrepreneurs - clients of bankrupt banks.
In 2015, Sberbank introduced a Currency Control Module integrated into the Bank's settlement system. This made it possible to abandon third-party software and optimize currency control processes, including reducing the processing time of currency control documents by 25%. Services for clients in remote banking systems have been improved. The ability has been implemented for clients to fill out currency control documents online, for clients to receive bank control statements, to inform clients about the processing status of currency control documents, about possible violations of currency legislation, etc.
In order to increase the efficiency of managing budget funds, an agreement was reached with the Federal Treasury Department to begin using the Cash Management service. 52 regional departments of the Federal Treasury and more than 31 thousand accounts for servicing budget recipients are connected.
Regional banks have introduced a banking support service for investment contracts. The Bank exercises control over the expenditure of funds for its clients in accordance with the execution of investment projects.
The bank provides clients with the AS Sberbank Corporation mobile application.
Using this application, heads of group companies always have quick access to information on all accounts of their group with the Bank. In this system, as part of the “Control and Acceptance” service, a service for monitoring electronic registers of salary slips under agreements on crediting funds to the accounts of individuals was launched.
The Payment Calendar service has been introduced, allowing clients to plan upcoming expenses and projected receipts, including under agreements with counterparties. The service allows you to create a payment calendar for future periods.
Quality of service Sberbank continues to monitor the level of the Index of Satisfaction and Loyalty of Corporate Clients. In 2015, the indicator increased by 2 points to 67.
A significant increase occurred in the estimates of large and medium-sized clients. Ratings of small and micro business clients have not changed significantly.
As in 2014, the importance for clients of certain parameters of interaction with the Bank is largely determined by the difficult economic situation, especially for the small and micro business segment:
the importance of basic cash management services and their price parameters remains high due to the fact that clients optimize their costs for banking services;
For corporate business, the Bank's flexibility when considering a loan application is of great importance:
individual approach to business valuation, lack of collateral, etc.
The indicator “Number of calls per 1000 active clients” at the end of 2015 was 6.3. A certain increase in requests was recorded due to failures in the cash withdrawal service at ATMs. Based on the results of the analysis of problem areas, the Bank optimizes processes. Since the end of 2015, Sberbank has introduced the principle of the “presumption of client innocence” when working with requests: upon receipt of a claim, funds are reimbursed to the client, and then the claim is considered without the participation of the client. A pilot was conducted to simplify the consideration of company claims, in which the maximum amount of compensation was increased from 600 to 1,500 rubles. The circulation is scheduled for 2016.
Based on the results of the pilot for the automated collection of feedback from clients of large and medium-sized businesses after reviewing credit transactions, a corresponding project is being implemented, including the processing of negative feedback and prompt resolution of problems of clients of all business segments.
Attracting funds from corporate clients In 2015, given the need to replace expensive government financing with client funds, work to attract funds from corporate clients was one of the most important areas of the Bank’s business.
The balance of corporate clients' funds increased over the year by 25.1% to RUB 7.4 trillion.
Sberbank's share in the total volume of legal entities' funds attracted by the banking system increased over the year from 21.9% to 25.0%. In terms of products, the share of current accounts increased during the year – from 29% to 34% of total funds of corporate clients.
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In 2015, Sberbank introduced a new service - placing funds on public terms, available to users of remote service channels - Online products. Clients can place funds on deposit and in the form of a minimum balance on a current account on public terms. Transactions are concluded without the client visiting the Bank's office. For these products there is a loyalty system, according to which customers who place funds on deposit or on a minimum balance again receive interest income, additionally increased by 5-10 percentage points.
regarding online bets. The functionality of the service is expanding. Today, you can remotely withdraw a deposit ahead of schedule, create an order to replenish it, extend the contract, and receive SMS and e-mail notifications about events under the contract.
Retail business
5. Retail business
Achievements of 2015 in retail business:
As of January 1, 2016, Sberbank attracted 10.2 trillion rubles. funds of individuals – the historically maximum volume. The influx of funds from private clients for the year is also a record: +2.2 trillion rubles.
Sberbank increased its housing loan portfolio to RUB 2.2 trillion. and occupied 55% of the mortgage market. The bank began to provide borrowers not only with the loan itself, but with a range of services from its partners - realtors, insurance companies, notaries and registration authorities.
Sberbank Online mobile applications for Android and iPhone were included in the lists of the best applications of the year in the Google Play and App Store stores in Russia, becoming the only financial product in both ratings.
Sberbank was recognized as a laureate of the “Consumer Rights and Quality of Service – 2015” award as the most customer-oriented bank in Russia.
A qualitative transformation has begun to occur in the field of non-cash services.
Quantitative achievements (millions of active cardholders, thousands of self-service devices, hundreds of thousands of POS terminals in the retail network) and the best Internet banking on the market have created the effect of a qualitative leap.
Through the efforts of consultants in offices and based on the results of active sales, the number of connections to online services in 2015 increased several times: by the end of the year, about 600 thousand online applications were connected per month.
The behavior of millions of Russians, largely thanks to Sberbank, began to change: the share of non-cash transactions on Sberbank cards for the first time exceeded 50%, in 2015 there was an explosive growth in P2P transfers - over the year, Sberbank clients transferred 2.4 trillion rubles to each other.
A new model of office work has been introduced – VSP 3.0. Consultants have appeared in offices who solve clients' problems on the spot and successfully sell services. As a result, the level of operational errors is gradually reduced and queues are reduced.
Lending to private clients Retail loans occupy more than 23% of Sberbank’s loan portfolio13.
The negative trend in reducing loan debt, noted in the first quarter of the reporting year, was reversed in the summer. As a result, over the year, more than RUB 1.2 trillion in loans were issued to private clients. The portfolio of loans to individuals increased by 1.6% and reached RUB 4,135 billion. At the end of the year, there was an increase in the share of both housing and consumer lending, while the volume of housing lending increased. Sberbank's share in the lending market increased by 2.8 percentage points. up to 38.7%.
Here, Sberbank's loan portfolio includes: loans to banks, legal entities and individuals.
Retail business
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Housing lending Housing lending remained Sberbank's priority product. The mortgage loan portfolio grew by 13.4% over the year. Sberbank's share of the outstanding debt in the housing lending market increased by 2.1 percentage points. and amounted to 55.0%.
In 2015, Sberbank took part in the “Mortgage with State Support” program, which applies to finished and under construction housing in the primary market. Since March 2015, 109 thousand loans worth 187 billion rubles have been issued. In addition, in the spring, a promotion was held for “Purchase of finished housing” (discount of 0.3 percentage points, down payment from 15%, loan term up to 8 years) and the provision of loans for “Country real estate” and “Construction of a residential building” was resumed ", the product "Non-targeted loan secured by real estate" was launched.
To help Sberbank borrowers with foreign currency mortgage loans, the Bank proposed an individual establishment of the loan conversion rate into rubles and the ruble interest rate after changes in the terms of the foreign currency loan.
Throughout the year there was a promotion for young families: a discount of 0.5 percentage points. to the basic level of interest rates, no additions to the interest rate for the period before registration of the mortgage. Over the course of the year, 101 thousand young families were able to take advantage of such loans for a total amount of 153 billion rubles.
In July and August by 1.0 p.p. and 0.5 percentage points, respectively, interest rates were reduced on all mortgage products with the exception of “Military Mortgage”, the “Mortgage with State Support” program and the “Non-targeted loan secured by real estate” product. After the reduction, the interest rate range was 11.4-14.5% per annum for basic mortgage products.
Retail business
Under “Military Mortgage” in 2015, Sberbank issued 11 thousand loans in the amount of 20 billion rubles, Sberbank’s share in loans issued was 34%14, in the total volume of housing loans issued by Sberbank 3%.
At the end of the year to maintain sales for the product “Purchase of finished housing”
The “Flat Rate” promotion was in effect - an offer with a fixed interest rate for each category of clients, regardless of the size of the down payment, the loan term or the mortgage registration period. The interest rate for clients receiving wages on a Sberbank card was 13.45% per annum, for other categories of clients – 13.95%, taking into account the application of the special “Secured Loan” condition. The decrease for certain groups of clients within the framework of the promotion amounted to 0.3-0.55 percentage points.
A major role in the development of mortgages is played by the development of partner channels – a vertical built within the Bank, which includes several business areas:
sale of the Bank's mortgage products on the territory of partner developers and real estate agencies; supporting clients with approved mortgage decisions before issuing a loan in special Mortgage Lending Centers; online services for mortgage clients and partners of the Bank.
Partners submit mortgage applications and approve clients’ real estate properties through a specially developed B2B web system “Partner Online”. This system allows you to reduce the processing time for a loan application from 5 to 2 days. The share of applications submitted by partners in the total number of mortgage applications of Sberbank over the year increased from 15% to 43%. There are more than 24 thousand active users of the Partner Online system.
partner companies of developers and real estate agencies.
A pilot project has been launched in Moscow and Novosibirsk to provide the client with a remote “Borrower’s Personal Account”, in which the client can manage his mortgage transaction, exchange information with partners and the manager of Sberbank.
A pilot project for online electronic registration of mortgage transactions has also been launched in Moscow and Novosibirsk. You can now send documents for registration to the Sberbank mortgage lending center without visiting Rosreestr.
The development of housing lending is also associated with new technical capabilities that the Bank has acquired that have made it possible to simplify the lending process. Thus, within the framework of Federal Law 259-FZ of July 13, 2015, the Bank ordered extracts from the Unified State Register of Rights to Real Estate and Transactions with It, as well as from the State Real Estate Cadastre - through access to the Rosreestr information resource. Such interaction with government agencies greatly facilitates the lending process for the client.
Consumer lending Consumer loans, despite the reduction in the portfolio, still remain the leader in terms of interest income, ahead of other retail products. In 2015, Sberbank, against the backdrop of worsening retail risks, maintained its priority to maintain the quality of its loan portfolio, focusing on attracting only high-quality borrowers. Over the year, the portfolio of consumer loans and credit cards decreased by 7.6%.
According to the Federal State Institution "Rosvoenipoteka"
Retail business Sberbank's share in the consumer loan market increased from 32.6% to 33.2%.
The Bank has resumed accepting applications for the provision of “Loans to individuals running private farms”. To stimulate demand, the Bank reduced interest rates three times on newly accepted applications for “Consumer loan without collateral”, “Consumer loan guaranteed by individuals” and “Consumer loan for refinancing external loans” and twice – for “Consumer loan to military personnel - NIS15 participants” and “Loans to individuals running personal subsidiary plots.” Promotions were held to coincide with the school year and the New Year holidays.
In the first half of 2015, technology was implemented that makes it possible to obtain approval for loan applications in 15 minutes.
In October, a new technology was introduced in all regions to provide a “Trust loan for the Bank’s borrowers - individuals with valid loan agreements.” The technology involves increasing the number of refinanced client loans to five, automatically checking overdue debt on existing loans and repaying existing loans when issuing a new product.
Credit cards Credit cards remain one of the important elements of the Bank's product line, successfully used for cross-selling to existing customers. Over the year, the Bank increased the volume of loan debt on credit cards from 410 to 441 billion rubles.
and strengthened its position as the leader of this market in Russia: its share in the credit card market increased from 29.9% to 33.4%. The number of active credit cards reached 15.6 million.
In 2015, as part of measures to respond to the market situation, Sberbank increased interest rates on debt on newly issued credit cards.
The commission for cash withdrawals from credit cards has been increased.
In April, the Bank introduced a temporary procedure for reducing credit limits on existing credit cards. The procedure affected customers who were late in payments. New limits are calculated based on the scoring model. Since April, the limits have been reduced by a total of 28 billion rubles, which freed up 3.2 billion rubles for the Bank. reserves.
The bank issues credit cards without PIN envelopes: the client independently assigns a PIN code for his card at the time of receipt. Since September, Sberbank clients can order a credit card with an approved limit of 50 thousand ATMs where the Sirius platform is installed: the Classic card can be obtained immediately at the nearest branch, and the premium Gold card in a few days.
Car lending The partner car lending channel was transferred by Sberbank to its subsidiary bank Cetelem. In 2015, Cetelem Bank retained 1st place in terms of issuances in the car lending segment. Sberbank Group retained 1st place in terms of the size of its auto loan portfolio. Despite the reduction in the new car sales market in Russia in 2015 by 35.7%, the volume of Cetelem Bank’s loan portfolio remained at the previous year’s level and amounted to RUB 80 billion. Cetelem Bank continued cooperation with 23 automobile brands and entered into a number of agreements to strengthen it.
NIS - savings mortgage system Retail business Raising funds from private clients Raising funds from private clients and ensuring their safety remain the basis of the Bank's business. Sberbank raises funds in time deposits, demand deposits, including bank cards, savings certificates, promissory notes and accounts in precious metals.
The volume of funds raised from individuals, including time deposits, demand accounts and bank cards, as well as funds in precious metals, increased by RUB 2.2 trillion in 2015. and by January 1, 2016 exceeded 10.3 trillion rubles. The growth rate at the end of the reporting year (27.2%) exceeded the growth rate of individuals' funds at the end of the previous year (4.9%). The main increase occurred due to time deposits in rubles. The volume of foreign currency deposits also increased in dollar equivalent.
Some deposits are opened in remote channels.
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During 2015, given the general market trend towards lower deposit rates and the existing dynamics of the Bank of Russia key rate, Sberbank six times lowered interest rates on deposits in rubles and foreign currency, including on savings certificates of individuals.
Promotions on ruble products, maintaining a competitive level of rates on foreign currency deposits, as well as new deposits for wealthy clients allowed Sberbank to maintain its market share in term deposits in rubles and significantly increase its share in foreign currency deposits.
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As of January 1, 2016, more than 170 thousand clients subscribed to the Sberbank Premier service package and more than 22 thousand VIP clients use the Sberbank First service package. As part of these packages, clients receive premium debit cards for themselves and their loved ones, Priority Pass cards for access to business lounges of the world's largest airports, have the opportunity to take advantage of preferential exchange rates for currencies and precious metals, as well as a discount on payment for the use of safe deposit boxes. Each package has a special line of deposits with an increased interest rate, as well as increased rates on savings accounts.
Retail business For clients of the upper mass segment, from October 1, 2015, the “Golden” service package was launched, which includes gold debit cards and travel insurance for the whole family.
Interaction with the Pension Fund of the Russian Federation Within the framework of agreements on the procedure for interaction between a branch of Sberbank PJSC and a branch of the Pension Fund of the Russian Federation16 when delivering pensions paid by the Pension Fund of the Russian Federation, concluded at the level of constituent entities of the Russian Federation, Sberbank offers a service for pensioners and privileged categories of citizens: free receipt of a certificate on the types and amounts of pensions and other social payments from the Pension Fund of Russia credited to an account in Sberbank. The certificate is issued at any Sberbank office or using the Sberbank Online service, as well as at ATMs and other self-service devices of the Bank. A certificate on the types and amounts of pensions allows pensioners to quickly receive detailed information about all types of Pension Fund payments due to them and their amounts for the required period.
The share of pensioners receiving pensions through the Bank is constantly growing. The number of Russians who have entrusted the payment of their pensions to Sberbank has reached 24.8 million people.
1 Jan’16 1 Jan’15 Number of social pensioners receiving pensions through 24,789,919 23,291,132 Sberbank, people.
The share of pensioners receiving pensions through Sberbank in the total number of social pensioners in the Russian Federation 59.0 56.2, % (excluding the number of pensioners in Crimea) Sberbank separately highlights work with the “Social” segment. The level of protection of the interests of pensioners regarding the safety of their deposits from attacks by third parties has been increased. A memo has been developed for employees of departments on protecting the savings of pensioners and disabled people from fraudulent actions of third parties. Now, by taking simple steps, branch employees can stop fraudsters, prevent them from taking advantage of gullibility and fraudulently forcing clients to make debit transactions on their accounts.
The process of receiving pensions into bank accounts has been simplified: the application for the delivery of pensions is automatically printed when opening an account, which frees up 15 minutes of clients’ time and eliminates labor-intensive manual filling in of details.
Work is underway to enable pensioners to draw up documents for the delivery of pensions remotely through their personal account on the Unified Portal of State Services.
Sources of non-interest income The main driver of growth in non-interest income in the retail business over the past few years has been: transactions with bank cards, acquiring, payments and transfers.
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The growth in the issuance of bank cards continues to accelerate the growth in the volume of transactions on card accounts.
Acquiring Sberbank’s share in the merchant acquiring market increased significantly over the year – by 7.2 percentage points. up to 54.7%. Such a noticeable breakthrough was made possible by restructuring the work of the business area: independent trade acquiring divisions were created at the level of territorial banks. During the year, Sberbank attracted 27 new federal key partners from a variety of segments for acquiring services: clothing, auto products, pharmacies, electrical goods, services. The number of active trade and service points involved in acquiring services increased 1.2 times and reached 552 thousand by the end of the year.
In August, a project began on special acquiring conditions for car dealers - for the first time in Russia, customers were provided with the service of paying for a car with a bank card.
The program operates in 546 car dealerships across the country. Thanks to her, Sberbank attracted 8 largest Russian car dealers for acquiring services.
The bank is actively developing Internet acquiring and has attracted 1,590 new partners over the year, an increase of 5 times. Turnover from bank cards on the Internet amounted to 85 billion rubles, an increase of 1.8 times. Payment for air tickets via telephone with bank cards and replenishment of Ladoshka school meal cards have been implemented. The total number of organizations using Sberbank’s Internet acquiring service exceeds 2.2 thousand.
The growth in acquiring services business volumes is accompanied by new technologies in this area. The bank introduced a unified standard of technical support for the trade and service network for all regions, and began accepting requests through the centralized support service 8-800 24/7. “LightCabinet” operates, through which the speed of fulfilling partners’ requests has increased many times; issues are resolved within the system without the use of mail and telephone. Standardization of the service will strengthen Sberbank’s competitive position in the acquiring market and optimize costs for technical support.
The development of cashless payment in public transport continues.
The pilot for accepting contactless bank cards at turnstiles, which started at the Moscow metro station Kotelniki, has been expanded to four more stations, where ticket offices and ticket machines are also equipped with acquiring equipment, and customers can pay for travel tickets with bank cards.
Debit cards In 2015, Sberbank expanded the capabilities of clients with debit cards. The issuance of international bank cards with the function of the “Troika” retail business ticket has been implemented. In addition to the usual functionality of a Sberbank debit card, the new card serves as a tool for paying for travel in the transport infrastructure of Moscow.
A new service has been launched: holders of any Sberbank debit cards can make transfers from their cards to any Visa cards of other Russian banks through the Sberbank Online system, ATMs and mobile applications.
Since July, the Sberbank website has made it possible to order a card using your own photos from Instagram. In the future, it is planned to expand integration with social networks.
In 2015, more than 90 projects were implemented to issue cards with individual designs for payroll clients, of which 44 projects were with universities. More than 370 thousand
clients will receive salary cards with an individual design. This makes Sberbank’s salary projects more attractive.
Throughout Russia, wages are paid to employees of enterprises using a technology convenient for clients: the enterprise provides a register using the Sberbank Business Online system for crediting funds to its employees, the Bank credits wages online to employees’ cards, information about credits instantly becomes available to the enterprise. The process is automated and the possibility of operational errors is eliminated.
A new technology for paying salaries to employees of federal companies with branches in different cities and regions of the country has been successfully introduced. According to a unified register, which indicates the company’s employees who have accounts in different branches of Sberbank and the wages due to them, the Bank independently transfers funds from the company’s current account to the salary accounts of its employees.
Sberbank optimizes card processes. According to the new technology of conversion operations for individuals, conversion between cards within Sberbank, as well as from card to deposit, occurs instantly at the rate fixed at the time of the transaction. This eliminates the occurrence of currency risk and customer complaints.
Processing of transactions of the international payment systems MasterCard and VISA has been completely transferred to servicing through the National Payment Card System.
In April, Sberbank launched the Piggy Bank service as part of the Sberbank Online service.
This is an automatic transfer of client funds from a debit card to a deposit according to an algorithm specified by the client. The service is very popular: 150 thousand connections per year.
Payments and transfers
In 2015, there was an increase in payments from individuals to legal entities:
their average number increased by 17% to 13 million per day. There was an increase in all types of payments. The number of payments for housing and communal services amounted to 2.8 million transactions per day (+20%), for cellular communications – 8.2 million per day (+18%). The stable growth of payments allowed Sberbank to strengthen its leadership position in the market of payments for housing and communal services with a share of 39%. In the market of payments for cellular communications, Sberbank is the leader with a share of more than 44%. This result was achieved thanks to the active development of payments through Autopayment, Mobile Banking and Sberbank Online.
The number of subscriptions to the Autopayment service amounted to 31.4 million. Automatic payments for housing and communal services are available in more than 100 cities of Russia. In 2015, active promotion of non-cash payments at the cash register began: the share of payments accepted at the cash register using a card reached 7%. The share of payments accepted using barcoding among receipts was 81%.
Retail business The total volume of transfers in 2015 exceeded 9 trillion rubles, which is 1.5 times more than the previous year.
Insurance and Wealth Management 2015 was characterized for Sberbank by a number of significant results in the wealth business, contrary to negative trends. Over the year, the client base grew from 7.5 to 13.2 million clients, the amount of assets under management of the Group increased from 221 to 450 billion rubles. In 2015, the Bank's network sold more than 9.5 million welfare products for individuals (insurance, pension and investment products), and 137 thousand insurance policies were issued to corporate clients.
The Sberbank Life Insurance company has once again confirmed its leadership in the life insurance market with a share of 34%. The total volume of insurance premiums amounted to 44 billion rubles. By the end of 2015, the total number of company clients exceeded 5 million people. The company brought to the market a number of product innovations for VIP clients - an investment product with annuities and a product for international health insurance. In addition, in the reporting year, the Company placed a special focus on the quality of customer service, which resulted in a victory in the “Best Contact Center” nomination in the insurance market, including life and non-life companies. The Bank of Russia included Sberbank Life Insurance IC in the list of systemically important insurance organizations.
In 2015, the Sberbank Non-State Pension Fund received pension savings from 2 million clients. Sberbank NPF became the leader in the compulsory pension insurance market in terms of the number of clients and the amount of assets; the fund’s assets amounted to 260 billion rubles. By the end of the year, the savings of another 1.4 million people will be transferred to Sberbank NPF. In total, over 4 million Russians became clients of Sberbank NPF.
IC Sberbank Insurance LLC is the fastest growing company in the Russian insurance market.
The company's collections amounted to 3.7 billion rubles, of which 75% was the share of non-credit insurance; more than 30 products launched. More than 1.5 million people throughout Russia have become clients of the Company. In the first year of active development, the Company entered the TOP 10 insurers in Russia for personal property insurance and the TOP 15 for online sales in Russia. Thus, over the year the Company moved from 119th place to 34th place in terms of total collections, and also took 13th place in terms of the number of insurance policies sold.
Another growth leader was Sberbank Insurance Broker. It is important to note that the company became profitable in its first year on the market and, following the results of 12 months, showed a steady increase in profits and the number of clients. At the end of 2015, the company's net profit amounted to 108 million rubles, 15% of clients were market clients attracted from outside.
Sberbank Asset Management JSC strengthened its leadership in the open-end mutual funds market: its share exceeded 25% of the market. The company took 1st place in terms of revenue among all management companies, demonstrating high results in managing investment funds: flagship equity funds (OPIF Active Management Fund: +42%), bonds (OPIF Ilya Muromets: +35%) and mixed investments (OPIF Balanced: + 38%) took first place among competitors at the end of the year.
Based on the results of 2015, the specialized depository entered the TOP-5 leaders in the market of depositary services for mortgage-backed securities.
Retail business In 2015, the implementation of a project unique in scale for the Russian insurance market began - 8 thousand Sberbank branches became points for accepting applications for the settlement of insurance claims of the Bank's clients.
In 2015, the Sberbank Depository was recognized as a leader in the Russian market of depository services, was among the best depositories in emerging markets, and received the “Category Outperformer”, “Market Outperformer” and “Global Outperformer” awards.
Sberbank's depositary services 443 thousand securities accounts. The market value of client assets in depository accounting in 2015 increased from 3.5 to 4.2 trillion rubles. In the reporting year, depository services for individual investment securities accounts began. As of January 1, 2016, 49.2 thousand such accounts were opened.
The provision of specialized depository services for insurance companies has begun. Agreements have been concluded with 25 insurance companies, the total value of controlled assets is 238 billion rubles.
The storage locations for securities were optimized, which made it possible to avoid reserving RUB 21.2 billion. under investments of Sberbank PJSC in securities.
The international bank issuing depositary receipts carried out an annual online certification of the Depository as a custodian of Russian shares, against which ADR/GDR was issued and circulated on Western markets.
A procedure has been implemented for daily debiting of the depository commission for changes in the balance of securities on trading sections from the personal brokerage accounts of investors, including those using the service for making unsecured transactions.
Rules and forms have been put into effect for identifying the Depository's clients (legal entities and credit institutions) for FATCA purposes.
Development of remote service channels Sberbank continues to improve its remote service channels. Over the year, the network of self-service devices, in accordance with the Bank’s strategy, decreased by 4 thousand devices and amounted to 52 thousand ATMs with cash dispensing function, 34 thousand.
without cash dispensing function17. The network of self-service devices has expanded with new software that provides customers with a single place to carry out transactions. In these devices (more than 53 thousand pieces), the client sees his transactions carried out in the Sberbank Online Internet bank, can print out a confirmation check for them and repeat the payment according to the template previously created in the Internet bank.
The technical availability of devices for customers increased from 93.2% to 95.1%. The share of ineffective self-service devices decreased from 14.7% to 2.7%.
The number of active users of the Sberbank Online web version increased from 17.9 to 24.6 million.
Sberbank has released a new, market-unique version of the Sberbank Online mobile application for the Android platform. The version has a built-in protection package with antivirus software that protects not only the application, but also the phone itself. This made it possible to provide customers with new functionality for payments and transfers. Significant changes have affected the design, which is built on the principles. In accordance with Federal Law No. 54-FZ “On the use of cash register equipment when making cash payments and (or) payments using payment cards,” all Sberbank payment terminals are considered ATMs.
Retail business Material Design: three-dimensional surfaces, realistic animation when touched.
Based on the design concept from Google, Sberbank created an application that corresponds to the graphic style familiar to Android users.
The mobile application of the Sberbank Online Internet bank for iPhone took 1st place in the rating of mobile banking applications for iPhone in terms of ease of use, published by UsabilityLab.
The bank has updated the Sberbank Online applications for all platforms: iOS, Android and WinPhone. Now, to register in the application, you do not need an ATM or a web version of Internet banking - just enter the card number and confirm authorization using the code from SMS. In the new version of the mobile application, you can quickly transfer money not only to a Sberbank client, but also to Visa and MasterCard cards of other Russian banks. To make an instant transfer, just indicate the recipient's card number. In the expense analysis service, you can create your own expense categories and transfer completed transactions to them, which allows you to better control your daily expenses.
The number of active users of Sberbank Online mobile applications has reached 10.5 million people. The number of payments through mobile applications increased 3.7 times and amounted to an average of 24.3 million transactions per month. The number of transfers increased 4.7 times and amounted to an average of 20.9 million transactions per month. The number of connections to the Mobile Bank SMS service reached 89.2 million, the number of active users exceeded 26.8 million people.
New service model in VSP In the second half of 2015, Sberbank implemented a major project to reorganize work in offices serving individuals - VSP 3.0. The new model has significantly changed the operating principle, the main tool of which is the Intelligent Control System18. This automated system is based on the consolidation and analysis of big data from more than 10 different Bank systems. The IMS identifies deviations at all levels of management down to each office employee and then issues targeted tasks to managers to eliminate deviations. Thus, front-line managers are freed from independent analytical work on collecting reports and searching for deviations. Currently, the IMS has 13.4 thousand active users, through which 1.3 million targeted tasks are submitted to VSP managers monthly. The perimeter of MIS tasks includes deviations in 29 performance indicators, knowledge of banking products, conversion of client flow into banking products, elimination of fraud and adaptation of newcomers.
The manager’s priorities in 2015 were sales management, mentoring, and working with clients. The model increased the operational quality in the offices, since operational and cash work, prevention of risk events, and handling of complaints became the task of dedicated deputy managers of VSP. The model made it possible to free up 6,000 full-time positions for VSP employees and 1,380 full-time positions for managers, which reduced the Bank’s expenses by RUB 4.6 billion. in year.
To ensure the most effective pre-claim resolution of customer issues, service managers have been assigned to 700 business offices19. About 85% of questions Next - MIS The largest offices, which account for more than 60% of all customer requests registered in VSP.
Retail business is resolved by service managers on the spot, most of them at the time the client contacts. Other questions are referred to the claims service.
The efficiency of sales managers has increased. Over the year, the number of products per day per manager increased from 8.5 to 11.3 pieces.
The Institute of Consultants at VSP is developing successfully. For example, at the end of 2015, comprehensive sales of remote services to clients began. The total volume of products sold through consultants in December increased by 21% compared to October.
As part of the new model, there is a transition to the concept of “atmosphere” in the office - for employees and clients. This is an integral indicator of climate measurement. For employees, this is the share of unfilled vacancies, due to which they have to work with increased workload, the share of overtime, intensity of service, compliance with productivity standards and the number of errors, which affects the level of employee income. For clients, this means the number of reformatted offices, operating windows, the presence of “electronic queues,” and convenient operating modes.
The atmosphere in the departments is measured, and tasks are set to eliminate deviations.
In 2015, there was a decrease in department employee turnover by 21%.
Employee engagement levels increased from 68% to 75%. For comparison: the best indicator for global financial companies is 78%.
Retail sales model In the first half of 2015, the Bank placed the main emphasis in active sales on promoting commission products and attracting funds from the public. In 2015, over 154 million communications were sent with offers for deposits and savings certificates. The additional increase in funds raised due to active sales campaigns amounted to RUB 100 billion.
Active promotion of credit products resumed in the second half of the year. At the same time, throughout the year, work was carried out on mass personalization of active sales campaigns. Thanks to consumer loan campaigns resumed on a massive scale in June, an additional RUB 99 billion was issued.
Active sales ensured an additional issuance of 556 thousand credit cards. In June, for the first time, 500 thousand Sberbank clients received a personal video message on their email with an offer of a credit card.
The most important achievement was the launch in August of individual pricing in active sales campaigns for consumer loans. Based on the model, each client is assigned a personal interest rate that is optimal for him.
The bank began using a new message delivery channel – the Viber messenger.
A welcome newsletter with the ability to go to Sberbank’s promotional page showed that 12 million clients are registered on Viber. The new method of communication allows you to reduce the cost of messages by 5 times compared to SMS and deliver content containing graphics and video to the client.
Retail business
At the end of 2015, the number of active clients20 of the Bank increased by 5.8% to 79.7 million people. As a result of working with the client base, the number of products per client increased over the year from 2.33 to 2.62. This suggests that clients more often choose Sberbank as their “main” bank.
Quality of service For operational monitoring and continuous improvement of customer satisfaction, Sberbank continues to calculate key metrics of customer experience:
NPS21 - based on the entire experience of the client’s interaction with the Bank, the client is asked to assess his readiness to recommend Sberbank to friends and acquaintances. The current NPS value of Sberbank is 55%.
CSI22 - immediately after registering a product or solving your problem in a branch, calling the Sberbank contact center, receiving a response to an appeal, the Bank asks the client to rate satisfaction with the quality of service in these channels. Over the course of the year, more than 960 thousand customer responses were received. All low ratings have been addressed and identified customer problems have been resolved.
Conducted customer satisfaction surveys for 7 product processes.
Based on customer opinions, recommendations for changing 84 processes were prepared.
One of the key priorities remains working with customer requests. More than 700 service managers work in offices and help clients solve their problems “here and now.”
A “Customer Care Center” has been created, which is designed to optimize work with requests and create a team of highly qualified specialists. The main advantage of the Center is the systematic and timely identification of the root causes of customer requests, transferring them to specialized departments for resolution.
Separately, work is carried out with high-profile appeals received by the Bank’s management and through social networks - 150 such problems were resolved during the year.
The Pulse system is aimed at searching the Internet for reviews about the work of Sberbank branches23. More than 37 thousand reviews were identified, 1.5 thousand complaints related to service at the Bank. All negative reviews have been taken into account and responses have been provided to clients.
A new service for employees, “My Client,” has been launched in test mode. If an employee becomes aware of a client problem from friends and relatives, he can pass on the information to resolve it to the right department.
Examples where negative customer experience helped the Bank understand the problem and find a process solution include the new technology for working with Smart Box bank cards. VSPs are equipped with special containers for storing cards. A client is considered active if, over the previous 3 months, they have used a banking product NPS (Net Promoter score) - an index of the client’s willingness to recommend Sberbank to their friends and acquaintances. Accepted in world practice as a key indicator of customer loyalty.
CSI (Customer Satisfaction Index) is an index of customer satisfaction based on a list of parameters at points of contact. Key diagnostic question: Overall, how satisfied were you with your visit to the bank today?
The search is carried out in four social networks: Foursquare, Instagram, VKontakte and Flamp. Retail business creates an electronic card index for placing cards in containers. The technology reduces the time for issuing a card to a client by 1.5 times and the labor costs for working with cards by 2 times.
Another example is a project that will allow real-time verification of notarized powers of attorney when a client contacts the Bank’s offices. The implementation of the project will begin in the 1st quarter of 2016.
Sberbank is implementing the “Paperless Front Office” project in all regions: over 70% of deposit transactions, transfers, and transactions with savings certificates are carried out using paperless technology. In 2015, 90 million documents were signed electronically, and 7,245 trees were saved. “Paperless front office” allows you to eliminate operational errors, reconcile documents when closing a business day, reduce paper consumption in offices by 15% and the need for storage space by 20%.
Sberbank continues to work to reduce queues. In 2015, in 6,481 offices, customer waiting time in queues was measured automatically using a queue management system. At the end of the year, 95% of clients who used the Bank's services waited in line no more than the time established by the standard (10 minutes on a normal day and 14 minutes during peak hours). This indicator is met in 97% of offices equipped with a queue management system.
Unified Distributed Contact Center24 The main priorities for the development of the Contact Center remain: leadership in customer satisfaction, expanding the range of services, efficiency.
The average waiting time for an operator response remains at a high level - 31 seconds at the end of 2015, a year earlier - 35 seconds. The satisfaction index with service at the ERCC remained at the same level and amounted to 80%. The volume of calls increased by 22% compared to the previous year and amounted to 95 million calls.
Subscribers of mobile operators Beeline, MTS and Megafon were able to call the Sberbank Contact Center at 900 on their home network for free.
A new service “Customer Code” has become available to the Bank’s clients. Using this code in an automated system, you can find out your balance, your last five transactions, get a Sberbank Online ID and block your card.
A new, sixth, contact center site has opened in Samara. Currently, 200 jobs have been created, the target placement is 730 places.
In order to increase employee engagement, a new motivation system was introduced. A project to improve working conditions for employees of the Contact Center in Omsk was completed; employee satisfaction with the internal space increased by 11 percentage points. to 96%, employee outflow decreased by 9 p.p. up to 36%.
In March 2015, as part of the Call Center World Forum business forum,
The Crystal Set award ceremony is the central event in the world of call centers. Representatives of the ERCC of Sberbank won in three categories:
“Steam Operator of the Year”, “Best Monitoring Team” and “Best Small Team”.
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In 2015, the securities portfolio increased by RUB 221 billion. The portfolio of available-for-sale securities has undergone the most significant change.
This portfolio increased by RUB 571 billion, due to:
the acquisition of sovereign bonds and Eurobonds to increase the volume of highly liquid assets for the purposes of managing the short-term liquidity standard, which comes into force on January 1, 2016;
positive currency revaluation of previously purchased Eurobonds;
acquisition of ECP/CD of foreign banks with a rating above A with a maturity of less than 6 months for the purpose of placing excess foreign exchange liquidity;
investment growth due to additional capitalization of subsidiaries.
Management of risks
7. Risk management Integrated risk management of the Group The risk management system is part of the overall management system of the Group and is aimed at ensuring sustainable development as part of the implementation of the Development Strategy approved by the Supervisory Board of the Bank. The Group's risk management system25 complies with the requirements of the Bank of Russia and regulations of the Russian Federation and takes into account the recommendations of the Basel Committee on Banking Supervision.
The Group recognizes the following types of risks as significant: credit risks of corporate and retail clients, country risk, credit risks of financial institutions, market risks of transactions in financial markets, ALM risks, risk of losses due to changes in the value of real estate, operational risk, legal risk, risk liquidity, compliance risk, tax risk, strategic risk, regulatory risk, model risk, risk of loss of business reputation.
Risk identification and assessment of their significance are carried out by the Group on an annual basis. For each risk recognized as significant, a management system is formed. The functions of managing all significant risks are distributed among the Bank’s committees. Risk management at an integrated level is carried out by the Group Risk Committee, the Management Board and the Supervisory Board of the Bank.
The Group is implementing a project to develop a risk culture. The goal of the project is to develop behavior in employees in which they openly discuss and respond to existing and potential risks, and to develop an internal mental attitude of intolerance towards ignoring, hushing up risks and the risky behavior of others. Risk culture complements existing formal mechanisms and is an integral part of the integrated risk management system. The Group pays special attention to employee behavior as a practical manifestation of risk culture.
Credit risks Credit risk is the risk of losses associated with the loss of value of a financial asset (loan, debt security held to maturity) due to default or deterioration in the credit quality of the counterparty/issuer.
Counterparty risk for transactions on financial markets is a risk associated with the reluctance/impossibility of full and timely fulfillment of obligations under a transaction on the part of the counterparty.
Concentration risk (in terms of credit risk) is associated with the provision of large loans to an individual borrower / group of related borrowers; concentration of debt in certain sectors of the economy, segments, portfolios, and geographic regions; similarly for investments in securities.
Residual risk is the risk that risk mitigation measures may not give the expected effect in connection with implementation in relation to ensuring legal risk and liquidity risk.
The risk management system is implemented at the level of the Group as a whole; Since Sberbank PJSC is the parent organization of the Group, some of the information on risk management is presented in relation to the Group.
Risk management General description of credit risk management The purpose of credit risk management is to determine and ensure the level of risk necessary to ensure the sustainable development of the Group, determined by the Group’s development strategy and macroeconomic parameters.
The Group’s objectives in managing credit risks:
implement a systematic approach, optimize the sectoral, regional and product structure of the portfolio in order to limit the level of credit risk;
increase the Group's competitive advantages through a more accurate assessment of the risks taken and the implementation of risk management measures, including reducing the level of realized credit risks;
maintain sustainability when introducing new, including more complex products.
The Group uses the following credit risk management methods:
risk prevention before surgery;
planning the level of risk by assessing the level of expected losses;
limiting credit risk by setting limits;
formation of reserves to cover possible losses on loans provided;
deal structuring;
transaction collateral management;
application of a system of powers when making decisions;
monitoring and control of risk level.
Credit risk assessment is carried out for the Bank as a whole and for individual asset portfolios, as well as in the context of individual counterparties, countries, regions and industries. The assessment is based on statistical models for quantifying credit risk.
In 2015, Sberbank became the first bank in the Russian Federation to submit a petition to the Bank of Russia to use approaches based on internal ratings to assess credit risk for the purpose of calculating capital adequacy ratios.
In 2016, the Bank will continue to develop internal risk assessment models; it is planned to use elements of artificial intelligence - self-learning of scoring models and automatic adaptation to new situations in real time.
Individual risks of counterparties for transactions are assessed:
for corporate clients, banks, small businesses, countries, constituent entities of the Russian Federation, municipalities, insurance and leasing companies: based on a credit rating system, as well as by building models of forecast cash flows or other important indicators;
Management of risks
for individuals and micro-business entities: based on a scoring assessment of the counterparty’s solvency in accordance with the Bank’s rules and express assessment.
Risk limitation and control of expected losses due to counterparty default are carried out using a system of limits that limits transactions with credit risk. The volume of the limit is determined by the level of risk of the counterparty, which depends on its financial position and other indicators: external influence, quality of management, assessment of business reputation. Country limits are highlighted separately.
To improve the quality of the loan portfolio, industry strategies were developed and approved in 2015.
Based on the principle of balance and prudence, to cover losses expected from the realization of credit risk on assets exposed to credit risk, the Bank and the Group create reserves for possible loan losses and other possible losses. Reserves are formed in accordance with the requirements of the Bank of Russia, banking regulators, international financial reporting standards and internal regulatory documents of the Bank and the Group as a whole, which provide for regular valuation of credit risk (expected in the event of the credit risk of losses materializing) taking into account the internal credit ratings of counterparties.
In order to ensure the proper adequacy of procedures for assessing the level of credit risks and determining the amount of reserves for possible loan losses, as well as reducing material and labor costs, when classifying loans provided by the Bank and the Group as a whole, portfolios of homogeneous loans are identified, for which the reserve is formed without making a professional judgment about the level of credit risk for each loan separately.
The Group monitors the concentration of large credit risks, compliance with prudential requirements, and predicts the level of credit risks. To do this, a list of groups of related borrowers is maintained at the level of a Group member, limits are set for borrowers, and the portfolio is analyzed by segments and products.
The main tool for reducing credit risk is collateral.
The need to accept collateral and the amount of collateral accepted depends on the risk of the borrower/transaction and is specified in the terms and conditions of the loan products.
To hedge credit risks, a collateral policy has been developed and applied, which defines the basic principles and elements of organizing work with collateral for lending. The collateral policy is aimed at improving the quality of the loan portfolio in terms of collateral. The quality of the collateral is determined by the likelihood of receiving funds in the amount of the expected collateral value when foreclosure on the collateral or its sale. The quality of collateral is indirectly characterized by the list and significance of the risks associated with the collateral and is determined by a number of factors: liquidity, reliability of value determination, risk of depreciation, exposure to the risks of loss and damage, risks due to legal reasons, and others.
The value of the collateral is assessed based on the internal expert assessment of the Bank’s specialists, the assessment of independent appraisers, or on the basis of the value of the collateral in the borrower’s financial statements using a discount.
The use of a guarantee from solvent legal entities as property security requires the same risk assessment of the guarantor as that of the borrower. The Bank conducts regular monitoring of collateral assets in order to ensure risk management control over the quantitative, qualitative and cost parameters of the collateral, their legal ownership, storage and maintenance conditions. The frequency of monitoring is determined by: the requirements of Bank of Russia regulations, the conditions for providing a loan product, and the type of collateral.
The existing systems of limits and authorities allow us to optimize the credit process and properly manage credit risk. Each territorial division and member bank of the Group is assigned a risk profile, which determines decision-making powers depending on the risk category of the application. In turn, the risk category of the application depends on the risk of the borrower, the total limit for the borrower / group of related borrowers, as well as the risk of the transaction.
In 2016, it is planned to optimize the decision-making process for corporate clients and CIB clients, including the construction of systems that allow certain categories of clients to make decisions within 1 day in real time.
In terms of working with problem debt, in 2015 behavioral scoring was introduced into the process of remote collection of overdue debt on personal loans. In 2016, it is planned to introduce a unified centralized retail collection system, providing for the full range of tools for resolving problem debts - remote, contact, outsourcing.
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Restructured loans As of January 1, 2016, the volume of restructured loans of legal entities amounts to RUB 2,907.5 billion, their share in assets is 12.8% (January 1, 2015:
RUB 2,212.0 billion and 10.2% respectively). Restructuring is the introduction of changes to the original essential terms of the loan agreement concluded with the debtor in a direction more favorable to him, not provided for by the original essential terms of the loan agreement.
As of January 1, 2016, the volume of restructured loans to individuals in the loan portfolio amounted to RUB 149.2 billion, their share in assets was 0.7% (January 1, 2015: RUB 72.5 billion and 0.3%, respectively). Typical restructuring options involve increasing the term of using the loan, changing the repayment procedure. Risk management of loan debt, refusing to collect penalties in whole or in part, changing the currency of the loan.
Level of concentration of large credit risks The Bank pays close attention to monitoring the level of concentration of large credit risks. In accordance with internal regulatory documents, the Bank has implemented a procedure for daily monitoring of large credit risks and forecasting compliance with the requirements established by the Bank of Russia according to standards26 N6 (maximum amount of risk per borrower or group of related borrowers) and N7 (maximum amount of large credit risks). For these purposes, the List of large and related borrowers of the Bank is maintained and monitored.
The share of loans from the 20 largest borrowers (groups of borrowers)27 in 2015 changed from 24.5% to 27.8% of the customer loan portfolio. Among the Bank's largest borrowers are representatives of various sectors of the economy, thus the credit risk is sufficiently diversified.
Detailed information about the structure of the Bank's loan debt and its quality is given in the explanatory information included in the annual accounting (financial) statements of Sberbank PJSC for 2015, compiled in accordance with the requirements of the Bank of Russia and posted on the Sberbank website on the Internet www.sberbank.com .
Liquidity risk The purpose of liquidity risk management is to ensure the Bank's ability to unconditionally and timely fulfill all its obligations to clients and counterparties while complying with the regulatory requirements of the Bank of Russia in the field of liquidity risk management both in normal business conditions and in crisis situations. The key document on the basis of which liquidity risk is assessed, controlled and managed is the Sberbank Policy on Liquidity Risk Management. When managing liquidity risk, the Bank identifies regulatory, physical and structural liquidity risks.
Regulatory liquidity risk – violation of regulatory restrictions on the values of mandatory liquidity ratios established by the Bank of Russia (N2, N3, N4 and NKL). In order to manage the risk of regulatory liquidity, the Bank carries out weekly monitoring and forecasting of mandatory liquidity ratios for various time horizons. In addition, Sberbank has established a system of limits on the values of mandatory ratios and liquidity indicators, which guarantees compliance with Bank of Russia restrictions both for reporting and intramonthly dates, taking into account possible fluctuations in individual balance sheet items.
Instruction of the Bank of Russia “On mandatory standards of banks” (as amended on October 25, 2013) dated December 3, 2012 No. 139-I The indicator is calculated as follows: loan debt of the 20 largest borrower companies (groups of companies) refers to the balance of the loan portfolio of legal entities and individuals ; both the numerator and denominator include urgent, overdue debt and assignment agreements; the debt of 20 companies takes into account the debt of Sberbank subsidiaries, but the debt of banks is not taken into account.
Risk management Physical liquidity risk – the Bank’s inability to fulfill its obligations to a counterparty in any currency due to a physical lack of funds:
impossibility of making a payment, issuing a loan, etc. Tools for managing physical liquidity risk in the short term are a model for forecasting the dynamics of the main balance sheet items by major currencies, and monitoring available liquidity reserves. To cover a possible liquidity deficit that exceeds the available reserve of funds, the Bank has access to instruments for attracting additional liquidity, which include direct repo transactions with the Bank of Russia, the Federal Treasury and market counterparties secured by securities, deposits of the Federal Treasury, currency swap transactions and swap with precious metals, as well as attractions from the Bank of Russia secured by non-market assets and guarantees of credit institutions.
Structural liquidity risk (concentration risk) is the possibility of a significant deterioration in physical or regulatory liquidity due to imbalances in the structure of assets and liabilities, including the high dependence of the bank’s liability base on one / several clients or sources of financing in a certain currency or for a certain period.
The approach to liquidity management throughout 2015 was largely determined by the current macroeconomic situation and the state of the Russian financial sector (sanctions against Russia by the EU and the US, volatility of the ruble exchange rate and other factors). However, thanks to a flexible interest rate policy and effective management of the active and liability base, in 2015 the Bank managed to reduce the volume of borrowing from the Bank of Russia and the federal budget by RUB 3.0 trillion. up to 0.8 trillion rubles. mainly due to attracting customer funds, as well as as a result of reducing the amount of cash as part of optimizing the management of cash balances. As of January 1, 2016, the Bank maintains the volume of reserves both in rubles and in foreign currencies at a level sufficient to respond in the event of a deterioration in the liquidity situation.
In 2015, the Bank of Russia announced the establishment of the Basel III short-term liquidity ratio (NTL, N26) as a prudential norm from January 1, 2016. The minimum acceptable value of the standard for 2016 is 70%, followed by an annual increase of 10 percentage points until reaching 100% from January 1, 2019. The calculation of the standard for Sberbank will be carried out at the level of the Sberbank Group. Sberbank’s business plan provides for unconditional compliance with liquidity standards throughout 2016.
As of January 1, 2016, Sberbank complies with the maximum values of mandatory liquidity ratios established by the Bank of Russia.
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Risk management Analysis of the Bank's assets and liabilities by maturity Securities measured at fair value through profit or loss, as well as the most liquid portion of securities available for sale, are considered liquid assets because they can be easily converted into cash in for a short period of time. Such assets in the table below are placed in the category “On demand and less than 1 month”. Overdue assets are classified as “not established” in the amount of the actual overdue payment.
to east and from 1 to 6 months from 1 year more than 1,000,000 rubles. less than 1 month 6 months up to 1 year up to 3 years 3 years updated total
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In 2015, there was a reduction in the liquidity gap for periods of up to 6 months, caused by a reduction in the volume of borrowings from the Bank of Russia through direct repo transactions and within the framework of Bank of Russia Regulation No. 312-P. The duration of such operations generally does not exceed 6 months. This reduction was offset by the attraction of client funds for various periods and the sale of cash. It is also worth noting the increase in the liquidity gap over a horizon of more than 3 years, mainly due to a reduction in the remaining maturity of loan debt.
Country risk Transfer risk is the risk of losses due to the inability of counterparties in a certain country (other than sovereign counterparties) to meet their obligations in a currency other than the country of the counterparty, for reasons other than standard risks (for reasons depending on the government of the country, and not on the counterparty ).
Risk of national economies - the risk of losses due to the inability or unwillingness of sovereign counterparties of a certain country and the inability of other counterparties of this country to meet their obligations in national currency for reasons other than standard risks (for reasons depending on the government of the country, and not on the counterparty).
To limit and manage the risks taken by the Group in relation to individual countries, the bank has developed a system of country risk limits. These limits limit the aggregate concentration of transactions with individual country counterparties, including sovereign borrowers/issuers and government authorities.
Transfer risk is assessed and capitalized within the framework of the Bank's internal capital adequacy assessment procedures, thereby ensuring the availability of a sufficient amount of available financial resources of the Bank to cover possible losses in the event of this risk materializing.
Management of risks
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The countries of the “developed country group” include: Australia, the Republic of Austria, the Grand Duchy of Luxembourg, the Hellenic Republic, Ireland, the Italian Republic, Canada, the Kingdom of Belgium, the Kingdom of Denmark, the Kingdom of Spain, the Kingdom of the Netherlands, the Kingdom of Norway, the Kingdom of Sweden, New Zealand, Portugal Republic, United Kingdom of Great Britain and Northern Ireland, United States of America, Federal Republic of Germany, Republic of Finland, French Republic, Swiss Confederation, Japan Risk management
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Market risks of operations in financial markets
Interest rate risk on a trading book's debt securities portfolio is a risk arising as a result of unfavorable changes in the levels of market rates.
Trading book stock risk is a risk arising from an unfavorable change in the prices of equity securities.
Management of risks
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The increase in the amount of market risk as of January 1, 2016 compared to January 1, 2015 is caused by an increase in volatility due to a shift in the historical window used to construct possible scenarios for changes in the prices of instruments in the portfolio. According to the methodology for assessing the magnitude of market risk, when constructing such scenarios, a historical window corresponding to the two-year period preceding the calculation date is used. In addition, the increase in market risk is also due to the expansion of the range of financial instruments covered within the VaR calculation.
The absence of stock risk is due to the liquidation of positions in shares in the trading portfolio on the balance sheet of Sberbank PJSC in accordance with the decision adopted to approve the stock portfolio management strategy.
It is calculated based on the Bank’s total position in financial instruments, including the Banking Book position, as well as on the Bank’s total open currency position.
Risk management Interest and currency risks of the banking book Interest and currency risks of the banking book are the risks of the bank experiencing financial losses on positions in the banking book due to unfavorable changes in interest rates, foreign exchange rates and prices of precious metals.
The main goals of managing these types of risk are:
minimizing potential losses due to the realization of interest and currency risks;
compliance with regulatory requirements;
optimization of the risk-return ratio.
Interest rate risk of the banking book Definition and sources of risk. The Bank assumes interest rate risk associated with the impact of fluctuations in market interest rates on cash flows.
Interest rate risk of the banking book includes:
interest rate risk arising from a mismatch in the maturities (revision of interest rates) of assets and liabilities that are sensitive to changes in interest rates, with a parallel shift, change in the slope and shape of the yield curve;
basis risk arising from a discrepancy between the degree of change in interest rates on assets and liabilities sensitive to changes in interest rates with a similar maturity (interest rate revision period);
the risk of early repayment (revision of interest rates) of assets and liabilities that are sensitive to changes in interest rates.
Interest rate risk management in 2015. During 2015, the Group reduced interest rate risk in rubles as a result of the implementation of a package of anti-crisis measures adopted by the Bank's management. As part of the Bank's interest rate risk management, since 2016, a target position for interest rate risk in rubles has been established, to achieve which monitoring indicators have been established for the volume and maturity structure of products, the implementation of which is regularly discussed at the Asset and Liability Management Committee.
Interest rate risk assessment. To estimate interest rate risk, a standardized shock is used in accordance with the recommendations of the Basel Committee.
Forecasting of possible changes in interest rates is performed separately for the ruble position and aggregated for the currency position. The interest rate shock is calculated as the 1% and 99% quantiles of the distribution of changes in the average annual interest rate obtained using the historical simulation method using data for at least the last 5 years. The reference rate for ruble interest rate swaps for a period of 2 years (RUB IRS 2Y) is used as the base rate for assessing the interest rate shock in rubles, as well as LIBOR 3M for the foreign exchange position.
The following shows the impact of rising and falling interest rates on the Group's profit before tax over a 1-year horizon as at 1 January 2016 compared to 1 January 201530:
Data is provided on the interest rate risk of the Banking Book in rubles for Sberbank PJSC, which constitutes the majority of the interest risk of the Group's Banking Book in rubles. In foreign currencies, data is given for the Group as of the latest available date (1 August 2015).
Management of risks
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The change in the interest rate risk of the banking book in Russian rubles as of January 1, 2016 relative to January 1, 2015 is mainly caused by:
a decrease in the volume of short-term borrowings from the Bank of Russia;
growth in the volume of the portfolio of funds of individuals;
a decrease in the volatility of interest rates in Russian rubles.
The change in the interest rate risk of the banking book in Turkish lira as of January 1, 2016 relative to January 1, 2015 was mainly caused by an increase in interest rates in Turkish lira, as well as an increase in the balance sheet of the Denizbank Group.
The change in the interest rate risk of the banking book in other foreign currencies as of January 1, 2016 relative to January 1, 2015 was mainly caused by:
increased volatility of interest rates in US dollars;
termination of attraction of government funding by Sberbank in US dollars;
reducing the maturity of the corporate loan portfolio.
Currency risk of the banking book The Bank is exposed to currency risk due to the presence of open currency positions (OCP). The main sources of OCP in the banking book are: lending and borrowing operations in foreign currencies and income received in foreign currencies.
Currency risk occurs due to unfavorable changes in exchange rates.
The bank daily consolidates the bank's total open currency position and manages the open currency position of the banking book in order to reduce currency risk. As the main instruments for managing currency risks, the Bank uses exchange transactions through SPOT settlements, forward contracts, as well as futures contracts for the US dollar traded on the MICEX.
In 2014-2015, the Bank closed currency positions in the banking book, as a result of which the Bank did not suffer losses due to a significant weakening of the Russian ruble exchange rate against foreign currencies in positions of the banking book.
Management of risks
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Operational risk Operational risk is the risk of losses to the Bank as a result of errors in the organization of processes, employee errors or abuse of third parties, failures in the functioning of information systems, as well as due to external events.
As part of operational risk management, the Bank has implemented processes for collecting internal data on operational risk incidents, self-assessment and scenario analysis. To monitor the level of risk, a reporting system is used for management and collegial bodies involved in risk management processes. Risk reporting is generated on a daily, monthly and quarterly basis.
Data on risk assessments and losses incurred make it possible to identify areas of risk concentration for the further development of a set of measures to help reduce the level of the Bank’s operational risk. The measures taken to reduce risks are systemic in nature and are aimed at improving existing processes and technologies for performing transactions (the risk of employee errors when performing transactions is reduced, a number of risks associated with the issuance of credit cards, overdraft cards, and incorrect setting of exchange rates in the Bank’s systems are completely eliminated) . Regular monitoring of the status of implementation of measures and the level of residual risk is carried out, both from structural divisions and from operational risk divisions, as well as management and collegial management bodies of the Bank and Group members. The Bank's awareness of risks is increasing: the level of concealment of information about actual incidents has decreased almost threefold.
The amount of damage from major operational risk incidents is regularly allocated to the Bank's divisions. Damage data is taken into account as part of the key performance indicators of members of the Management Board, curators of functional blocks of the central office and chairmen of territorial banks. In addition, the Bank maintains a rating of internal structural divisions according to the level of operational risks in order to minimize them.
More detailed information on risk management procedures, as well as on other key types of risk, such as risk of losses due to changes in the value of property, legal risk, compliance risk, regulatory risk, tax risk, strategic risk and model risk, is provided in the explanatory information. included in the annual accounting (financial) statements of Sberbank PJSC for 2015, compiled in accordance with the requirements of the Bank of Russia and posted on the Sberbank website on the Internet www.sberbank.com.
The table shows, in aggregate, the 3 largest open-end-practice values for the banking and trading books, calculated in accordance with Bank of Russia instruction 124-I.
Staff
8. Personnel General information about personnel During 2015, the actual number of Sberbank personnel decreased by 4,492 employees to 271,231 employees. The reduction was mainly due to the reduction of the Operations, Retail and Corporate business blocks. A significant portion of employees (46%) work directly with clients.
Personnel involvement Sberbank pays great attention to personnel involvement. To achieve this, a large-scale employee survey is conducted every year. The feedback obtained from the results is used to determine priorities in working with personnel.
In 2015, the engagement survey was conducted entirely online for the first time, which increased the number of participants to 194 thousand people and expanded the geography of the survey to 346 cities. The engagement index showed significant growth for the second year in a row – by 6.7 percentage points.
to the level of 75.6 p.p. The factors that have the greatest impact on the engagement of Sberbank employees are: the quality of change management in the Bank, including the quality of communications; senior management – the level of its competence, openness in communication with employees, creation of conditions for effective interaction;
opportunity for effective work performance – speed of decision-making, simplicity of the approval process, the ability to influence decisions made, professionalism and compliance with employee values.
Based on the survey results, a set of practical recommendations for the development of the Bank’s corporate culture was formed. In 2016, the quality of communications in the change management process will be improved, and value assessments will be used in all elements of the HR cycle when making personnel decisions. Work will be carried out to develop a mentoring leadership style among managers in daily work, and to increase the discipline of timely reporting of problems and errors.
Selection and adaptation In 2015, as part of the selection procedures in 2015, 54,554 new specialists and managers were hired at Sberbank. According to Sberbank’s new standards, newly hired employees are provided with quick and high-quality induction into their positions, and assistance is provided in their new environment.
In 2015, more than 13,700 students completed practical training and internships at Sberbank PJSC and the Bank’s subsidiaries. The program for the recruitment and development of university graduates is implemented in the CIB block.
As part of cooperation with educational institutions, more than 2,000 lectures were given by Bank employees, and more than 100 different case competitions were held.
HR cycle The Bank has a single annual cycle of setting goals, assessing performance and potential, career planning, development and promotion of employees - the HR cycle.
At the beginning of the year, based on the Bank's strategic goals, senior management goals for quarters and the year are formed. Goals then cascade down through management levels and across territories.
Personnel Performance evaluation of employees is carried out every quarter, and in December the results of work for the year are summed up. Feedback is provided based on the assessment results. In 2015, in addition to performance assessment, an assessment of compliance with the Bank’s values was also introduced. In 2015, 100% of employees passed performance assessments.
In relation to the Bank's managers, an assessment tool is used - personnel commissions, which collectively consider the potential and success of the manager.
Based on the results, an action plan is developed for each employee, a list of employees recommended for participation in the personnel reserve for key positions of the Bank is determined, and a list of successors is agreed upon. In 2015, 20 thousand people passed personnel commissions.
managers - 63% of their total number. In 2016, 100% of managers will be covered.
Based on the results of the assessment, employees form an individual development plan or an improvement plan if the employee is found to be ineffective. In 2015, the coverage of such plans increased 15 times compared to 2014.
The Bank has a personnel reserve for key positions. For other positions, a succession policy is implemented. The personnel reserve consists of effective managers with high potential who are ready to occupy key positions in the Sberbank system over the next two years.
Based on the results of work for the year, the employee receives feedback from the manager, colleagues, subordinates, and internal clients in a 360-degree format.
In 2015, a mentoring system was fully introduced throughout Sberbank, which allows an employee to develop from the experience of others. Over the course of the year, 12 thousand managers were trained in mentoring tools and most of them successfully use mentoring tools in practice.
The Sberbank Corporate University, which was recognized as the best in the ranking of Leaders of Corporate Education according to RBC magazine, is operating at full capacity.
Over the course of the year, more than 25 thousand managers studied at the university. More than 200 leaders have taught in KU programs under the Leaders Teach Leaders system.
In 2015, a new model of general banking professional competencies was developed. Programs have been created for employees to be trained in 2016.
In 2015, 550,64,732 specialists were trained. 254 centralized training programs for specialists have been developed. At the end of the year, the level of satisfaction with the training programs was 9.4 points out of 10.
Corporate benefits and privileges The Bank provides all employees who have completed a probationary period with voluntary medical insurance and insurance against accidents and serious illnesses.
| FEDERAL AGENCY FOR EDUCATION VLADIVOSTOK STATE UNIVERSITY OF ECONOMICS AND SERVICE Pavlikov S.N. DEVICES FOR FORMING AND GENERATING SIGNALS Basic definitions VLADIVOSTOK AFC (auto..." |
Chairman of the Moscow Bank, Vice President of Sberbank Oleg Smirnov held a press conference on the results of the work of the Moscow Bank in 2015. As of the beginning of this year, the volume of funds raised from individuals reached a record high and exceeded 3 trillion rubles. In percentage terms, the growth was 34.7% (RUB 796.9 billion).
As for loans to the population, the growth of the loan portfolio in this area amounted to 2% or 8.8 billion rubles. The total volume of the loan portfolio in 2015 reached 440.1 billion rubles. In total, last year the bank lent to the population in the amount of 136.5 billion rubles.
Financing of housing loans amounted to RUB 94.5 billion. In total, Moscow Bank financed 31 thousand projects under housing lending programs. In accordance with the mortgage lending program with state support, the bank provided 11.8 thousand loans over the past year, the total value of which reached 32 billion rubles.
Significant development was also observed in the use of Internet banking by individuals. Thus, the number of Sberbank Online users in Moscow alone increased by 807,000 people or 34% - in total to 3,200,000 active users.
Global growth was registered among users of the Sberbank Online mobile application. Compared to 2014 data, the increase in their number was 156% or + 1,300,000 people. As of January 1 of this year, 2,100,000 Moscow Bank clients installed the mobile application on their smartphones or tablets.
The growth of P2P transfers in Mobile Banking amounted to 268% and reached almost four times the size (3.7 times). In absolute terms, the number of operations increased to 35,400,000 per year.
The transition of clients to remote services led to a slight decrease in client flow in physical bank branches. In Moscow, this figure fell by 3.4%. Over the year, more than 80,000,000 clients of Moscow Bank switched to self-service.
In total, the bank's branch network as of January 1 of the new year includes 753 offices, of which 647 are engaged in servicing individuals, 59 - legal entities, 13 - VIP clients. 34 units - mini-offices and self-service departments. 65% of the total number of bank offices in the capital, or 489 units, operate in the new format.
Speaking about servicing legal entities, it is worth noting that the total volume of funds raised from organizations amounted to 2 trillion 340 billion rubles and increased by 30.4%. The volume of lending to legal entities last year amounted to 801.7 billion rubles. The loan portfolio of legal entities - clients of the Moscow Bank - as of January 1, 2016, reached 1 trillion 127 billion rubles. and grew by almost 5.7%.
Moscow Bank, Sberbank, results, 2015, report, development, growth, Russia, Moscow
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