May 27, 2016, Moscow - Herman Gref, CEO, Chairman of the Executive Board of Sberbank, delivered a speech at Sberbank's annual general meeting of shareholders.

'In 2015 it became clear that trends that we've been observing over the past decades began to break,' Herman Gref said in the beginning of his speech, 'To emerge from the crisis we are required to transition to innovative development and carry out large-scale reforms.'

In his address the Head of Sberbank outlined three main subjects characterizing the bank's activities in 2015: return to profitability and capital adequacy, the most significant achievements of the past year and development priorities in 2016.

'In 4Q 2015 profit was almost 1.5 times higher than in 4Q 2014,' he said. 'As a result of measures taken during the year we were able to raise capital adequacy to 8.9%. We see that in all stressful scenarios Sberbank's capital adequacy will remain in a comfortable zone.'

'We often talk about the challenges presented by technology companies, but it's becoming increasingly more visible how our business begins to sharply accelerate backed by investments into digital technologies,' Head of Sberbank noted.

Herman Gref announced that Sberbank had identified three priorities for development in 2016: development of technology; transition to bimodal organization; team and culture - effective communications and delegation of responsibilities comes first.

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Sberbank
Alexander Baziyan
Press Office
Tel. +7(495) 957 5721
media@sberbank.ru
https://twitter.com/SberbankMedia

Sberbank is Russia's largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

The Bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.

Sberbank published this content on 27 May 2016 and is solely responsible for the information contained herein.
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