Accounting (financial) statements of PJSC Sberbank of Russia. Accounting (financial) statements of Sberbank of Russia PJSC Sberbank report

Introduction
Chapter 1 Organizational and economic characteristics PJSC Sberbank
Chapter 2 Organization of cashless payments in PJSC Sberbank
Conclusion
List of sources used

Introduction

The purpose of the pre-diploma practice is the formation of skills for the practical use of theoretical knowledge in practical activities, the collection, systematization and processing of information practical material on the topic of the final qualification work "Organization of cashless payments in a commercial bank."

Research object - Sberbank PJSC

During the period of practice, the following were set and resolved

- a description of the activities of Sberbank PJSC was given;

- a diagram of the organizational structure of management was drawn up;

- considered the functions of the main structures and the interaction between them;

- considered the forms and types of cashless payments;

- studied the process of managing cashless payments;

- analyzed the organization of cashless payments;

- made up registers of documents in the currency of the Russian Federation;

- familiar with all forms of cashless payments;

- learned how to process and pay transfers.

When writing the report, the methods of systematization were used, analytical, predictive, calculated, graphic.

The industrial practice was held in the additional office of Sberbank No. 85932/04.

The purpose of the practical training is to consolidate theoretical knowledge in the field of banking, acquire professional skills of a specialist and collect information for writing FQP.

Chapter 1 Organizational and economic characteristics of PJSC Sberbank

PJSC Sberbank is the largest bank in Russia and the CIS with the widest network of divisions, offering a full range of investment banking services. The founder and main shareholder of Sberbank is the Central Bank of the Russian Federation, which owns 50% of the authorized capital plus one voting share; over 40% of the shares are owned by foreign companies. About half of the Russian private deposit market, as well as every third corporate and retail loan in Russia, falls on Sberbank.

Full corporate name of the bank: Public Joint Stock Company Sberbank.

Abbreviated name of the bank: PJSC Sberbank.

The history of Sberbank of Russia begins with the personal decree of Emperor Nicholas I of 1841 on the establishment of savings banks, the first of which was opened in St. Petersburg in 1842. A century and a half later - in 1987 - on the basis of state labor savings banks, a specialized bank for labor savings and lending to the population was created - Sberbank of the USSR, which also worked with legal entities. The Sberbank of the USSR included 15 republican banks, including the Russian Republican Bank.

At the moment, despite the far from outstanding quality of service in most branches (with the exception of services for VIP clients), the bank is the leader not only in terms of assets, but also in the number of settlement accounts of legal entities (over 1 million). On the private deposit market, Sberbank is a monopoly - it controls 45% of the market (the bulk of the deposits of "physicists" falls on the so-called pension deposits in rubles). It should be noted that at the beginning of 2002 the bank's share was 71.4%. The further decrease in the market share occupied by Sberbank is largely facilitated by the deposit insurance system and the increase in the amount of insurance compensation. About 11 million people receive salaries through Sberbank, and 12 million of pensions. The bank issued more than 30 million plastic cards, the number of installed ATMs exceeds 19 thousand. The number of employees as of December 31, 2012 was over 233 thousand people.

The main directions of banking activities:

Corporate business: servicing settlement and current accounts, opening deposits, providing all types of financing, issuing guarantees, servicing export-import transactions of customers, collection services, cash services, conversion services, services for transferring funds to the public in favor of legal entities, transactions with bills of exchange, etc. others.
Retail business: providing banking services to individuals - individuals for accepting funds for deposits, lending, servicing bank cards, operations with precious metals, savings certificates and bills of exchange, buying and selling foreign currency, payments, money transfers, including without opening bank accounts , storage of valuables and others.
Operations in financial markets: with securities, derivative financial instruments, foreign currency; placement and attraction of funds on the interbank market and capital markets and others.

Within the framework of the listed activities, Sberbank PJSC offers a wide range of banking products and services.

Besides banking operations the bank carries out:

Issuance of guarantees for third parties;
Acquisition of rights of claim from third parties;
Trust management of funds;
Professional activity in the market valuable papers, including brokerage, dealer and depository activities;
Other operations and services.

The general meeting of shareholders is the supreme governing body of the bank. At the general meeting of shareholders, decisions are made on the main issues of the bank's activities. The list of issues related to the competence of the general meeting of shareholders is determined by the Federal Law "On Joint Stock Companies" dated December 26, 1995 No. 208-FZ (as amended on December 28, 2013) and the bank's charter.

In accordance with the charter, the general management of the bank's activities is carried out by the supervisory board. The competence of the Supervisory Board includes issues of determining the priority areas of the bank's activities, appointing members of the board and early termination of their powers, issues of convening and preparing general meetings of shareholders, recommendations on the amount of dividends on shares, periodic hearing of reports of the president, chairman of the bank's board on the bank's activities and other issues ... The committees of the supervisory board are bodies established for preliminary consideration of the most important issues within the competence of the supervisory board and preparation of recommendations on them. The formation of committees is carried out annually from among the members of the bank's supervisory board. Independent directors are included in each committee. The committees facilitate working interaction with the bank's governing bodies. The current activities of the bank are managed by the president, chairman of the board and the board of the bank.

In order to improve efficiency and business development, the bank has a number of collegial working bodies (committees) accountable to the board of Sberbank, whose main tasks are to resolve issues of pursuing a unified, agreed policy in various areas of the bank's operating activities. The Board is a platform for active discussion of strategic issues of the bank's development and the development of optimal solutions, taking into account the specifics of the regions.

Consider the financial condition of PJSC Sberbank.

Table 1 ¾ Main financial indicators of Sberbank for 2012-2014,

The increase in assets in 2012 compared to 2013 was 19.8%, and in 2014 compared to 2013 the growth rate increased to 33.6%. The deviation of the bank's capital in 2013 in relation to 2012 amounted to 18.4%, and in 2014 in relation to 2013 the growth rate decreased to 16.2%.

Consider the dynamics and structure of the bank's balance sheet indicators.

Table 2 ¾ Dynamics of assets of PJSC Sberbank for 2012 - 2014, billion rubles

Index	2012	2013	2014	Deviation 2013 from 2012		Deviation 2014 from 2013
Index	2012	2013	2014	sum	%	sum	%
Cash	725	717	1 241	-8	-1	524	73
	381	409	370	28	7	-39	-9
Mandatory reserves	122	112	143	-10	-8	31	27
	81	94	356	13	16	262	278
	102	145	826	43	42	681	469
Net loan debt	9 773	11 978	15 890	2 205	22	3 912	32
	1 542	1 744	1 745	202	13	1	0,1
	281	311	386	30	10	75	24
	362	404	366	42	11	-38	-9
	438	468	479	30	6	11	2,3
Other assets	178	316	407	138	77	91	28
Total assets	13 582	16 275	21 747	2 693	19	5 472	34

The bank's assets in 2013 increased by 19% compared to the previous period, while in 2014 the growth was 34% compared to 2013. The main factors behind the growth of the bank's assets are: an increase in net loan debt, which amounted to 32% in 2014 and 22% in 2013, an increase in investments in securities by 0.1% in 2014 and by 13% in 2013. Also in 2014 there is a significant increase money... The increase in the growth rate of total assets is due to the increase in growth in the main items of assets.

Consider the analysis of the structure of assets of PJSC Sberbank.

Table 3 ¾ Structure of assets of PJSC Sberbank for 2012 - 2014, billion rubles

Index	2012		2013		2014
Index	sum	%	sum	%	sum	%
Cash	725	5	717	4	1 241	5,71
Funds of credit institutions with the Central Bank of the Russian Federation	381	2	409	2,5	370	1,7
Mandatory reserves	122	0,8	112	0,6	143	0,66
Funds from credit institutions	81	0,5	94	0,5	356	1,64
Net investments in securities at fair value through profit or loss	102	0,7	145	0,8	826	3,8
Net loan debt	9 773	71	11 978	73	15 890	73,1
Net investments in securities and other financial assets available for sale	1542	11	1 744	10	1745	8,02
Investments in subsidiaries and affiliates	281	2	311	1,9	386	1,77
Net investments in securities held to maturity	362	2,6	404	2	366	1,68
Fixed assets, intangible assets and inventories	438	3	468	2,8	479	2,2
Other assets	178	1	316	1,9	407	1,87
Total assets	13 582	100	16 275	100	21 747	100

The largest share in the structure of the bank's assets is occupied by net loan debt (73%), which remains at the same level in the study period. Net investments in securities account for 10% of the bank's balance sheet assets, which indicates a high investment activity of the bank.

Table 4 ¾ Analysis of the dynamics of Sberbank's own funds for 2012-2014, billion rubles

Index	2012	2013	2014	Deviation 2013 to 2012		Deviation 2014 to 2013
Index	2012	2013	2014	sum	%	sum	%
Shareholders funds	68	68	68	0	0	0	0
Share premium	228	228	228	0	0	0	0
Reserve fund	3	3	4	0	0	1	33,33
Revaluation at fair value of available securities before sale	26	-8	-197	-34	-130	-189	611
Revaluation of fixed assets	84	83	81	-1	-1	-2	-2,41
Retained earnings of previous years	895	1 183	1 489	228	25	306	25,87
	346	378	311	32	9	-67	-17,72
	1 651	1 935	1 982	284	17	47	2,43

From the data on the dynamics of own funds, we can conclude that in the period from 2012 to 2013. there is an increase in some indicators, such as: "retained earnings (uncovered losses) of previous years" and "unused profit (loss) for the reporting period".

As you can see in the figure, own funds are showing steady growth.

Table 5 ¾ Analysis of the structure of Sberbank's own funds for 2012-2014, billion rubles

Index	2012		2013		2014
Index	sum	%	sum	%	sum	%
Shareholders funds	68	4	68	3	68	3,4
Own shares (stakes) redeemed from shareholders (participants)	0	0	0	0	0	0
Share premium	228	13	228	12	228	11,5
Reserve fund	3	0,1	3	0,1	4	0,2
Revaluation at fair value of securities available for sale	26	1,5	-8	-0,4	-197	-9,9
Revaluation of fixed assets	84	5	83	4	81	4,1
Retained earnings (uncovered losses) of previous years	895	54	1 183	64	1 489	75,1
Unused profit (loss) for the reporting period	346	21	378	19	311	15,7
Total sources of own funds	1 651	100	1 935	100	1 982	10

According to the table, the largest share in the structure of own funds is occupied by reinvested profit, while there is a steady growth in the share of retained earnings of previous years, and the share of unused profits of the reporting period tends to decrease. The share of revaluation amounts of shareholders' fixed assets and share premium is also decreasing. The revaluation at fair value of securities available for sale is negative, indicating a loss from investing activities.

Consider the economic standards of Sberbank PJSC for 2012-2014

As Figure 4 shows, in 2014, the bank's capital adequacy ratio decreased significantly from 12.87% to 11.5%, although it still corresponds to the required value of 10%.

Consider the analysis of the dynamics of funds raised by Sberbank.

Table 6 ¾ Analysis of the dynamics of borrowed funds of Sberbank PJSC for 2012-2014, billion rubles

Index	2012	2013	2014	Deviation 2013 from 2012		Deviation 2014 from 2013
Index	2012	2013	2014	sum	%	sum	%
	1 368	1 967	3 516	599	43	1 549	78,7
	605	630	795	25	4	165	26,2
	9 462	11 128	14 027	1 666	17	2 899	26
Individual deposits	6 288	7 586	7 999	1 298	20	413	5,4
Financial liabilities at fair value through profit or loss	25	34	618	9	36	584	1 717
	332	404	513	72	21	109	26
	0	0	2	0	0	2	0
	0	0	43	0	0	43	0
Other liabilities	115	145	216	30	26	71	48,9
Provisions for possible losses on contingent credit liabilities, other possible losses and transactions with residents of offshore zones	21	31	36	10	47	5	16
Total liabilities	11 930	14 340	19 764	2 410	20	5 424	37,8

The bank's liabilities show a positive trend over the period under study: in 2013, the growth of liabilities was 20% compared to the previous period, and in 2014, 37.8% compared to 2012. The main factors of growth are: the growth of loans and deposits of the Central Bank, which amounted to 43% in 2013, and 78.7% in 2014 compared to 2011. Deposits of individuals have a downward trend (in 2013, deposits amounted to 20% compared to the previous period, and in 2014 - 5.4% compared to 2013)

Table 7 ¾ Analysis of the structure of borrowed funds of Sberbank PJSC for 2012-2014, billion rubles

Index	2012		2013		2014
Index	sum	%	sum	%	sum	%
Loans, deposits and other funds of the Central Bank of the Russian Federation	1 368	11,4	1 967	11,7	3 516	17,8
Funds of credit institutions	605	5	630	2,5	795	4
Due to customers other than credit institutions	9 462	0	11 128	77,6	14 027	71
Deposits of individuals and individual entrepreneurs	6 288	52	7 586	20,9	7 999	40,5
Financial liabilities at fair value through profit or loss	25	0,2	34	0,09	618	3,1
Debt issued	332	2,7	404	1,3	513	2,6
Current tax liability and income	0	0	0	0	2	0,01
Deferred tax liability	0	0	0	0	43	0,2
Other liabilities	115	0,9	145	0,3	216	1,1
Provisions for possible losses on contingent credit commitments, other possible losses and on transactions with residents of offshore zones	21	0,1	31	0,09	36	0,2
Total liabilities	11 930	100	14 340	100	19 764	100

The largest share in the structure of attracted funds belongs to clients' funds that are not credit institutions, their share at the end of 2013 was 77.6%. Loans, deposits and other funds of the Central Bank of the Russian Federation also accounted for a significant share in the structure of borrowed funds in 2013.

Chapter 2 Organization of cashless payments in PJSC Sberbank

Cashless settlements are settlements carried out without the use of cash, by transferring funds through accounts with credit institutions and offsetting mutual claims. Cashless payments are of great economic importance in accelerating the turnover of funds, reducing the cash needed for circulation, and reducing distribution costs. The difference between cashless payments and cash payments:

1) the payer and the recipient transferring cash take part in settlements in cash. There are three participants in non-cash payments: the payer, the recipient and the bank in which such payments are made in the form of an entry on the accounts of the payer and the recipient;

2) participants in non-cash payments are in credit relations with the bank. These relationships are manifested in the amounts of balances on the accounts of participants in such settlements. There are no such credit relationships in cash circulation;

3) transfers (transfers) of money belonging to one settlement participant in favor of another are made by means of entries on their accounts, as a result of which the bank's credit relations with participants in such operations change. Thus, the turnover of cash is replaced by a credit operation. Cashless payments in the economy are organized according to a certain system, which is understood as a set of principles for organizing non-cash payments, the requirements for their organization, determined by the specific conditions of management, as well as the forms and methods of payments and the workflow associated with them.

The form of settlement is a set of interrelated elements, which include the method of payment and the corresponding workflow. Document circulation is a system of registration, use and movement of settlement documents and funds, which includes: an invoice by the consignor and its transfer to other settlement participants; the content of the settlement document and its details; terms of drawing up a settlement document and the procedure for presenting it to the bank, as well as to other settlement participants; movement of a settlement document between bank institutions; the procedure and terms for payment of a settlement document, transfer and receipt of funds; the procedure for using the settlement document for mutual control of settlement participants and the implementation of economic impact measures.

Non-cash payments mainly serve the sphere of economic relations of enterprises and their relationship with the financial and credit system. Thus, their essence is that economic authorities make payments to each other for inventory items and services rendered, as well as for financial obligations by transferring the amounts due from the payer's account to the recipient's account or offsetting mutual debts.

The value of cashless payments is great, since:

1) non-cash payments contribute to the concentration of monetary resources in banks. Temporarily free funds of enterprises stored in banks are one of the sources of credit;

2) non-cash payments contribute to the normal circulation of funds in the national economy;

3) a clear distinction between non-cash and cash money turnover creates conditions that facilitate the planning of money circulation and non-cash money turnover, as well as determining the size of the issue and withdrawal of cash from circulation.

On the one hand, the development of cashless payments leads to a reduction in the need for cash and to savings in distribution costs. The larger the payment, the more pronounced these benefits. However, if the payment amount is insignificant, then a cash contribution is more advantageous. It is difficult to pinpoint the line when the advantages of cash payment become its disadvantages.

Non-cash transactions are reflected in settlement, current and other accounts opened by banks to their clients after the latter have submitted the relevant documents.

All non-cash payments are made on the basis of settlement documents. Their forms must comply with established standards, and they must contain the following details:

- the name of the settlement document and its form code according to OKUD;

- document number, date, month, year of its execution. In this case, the day is indicated in numbers, the month - in words, the year - in numbers;

- the name and location of the payer's bank, its bank identification code (BIC), the number of the correspondent account or subaccount;

- the name of the payer, his identification number (TIN), KPP, as well as the bank account number;

- the name of the recipient of funds, his bank account number;

- the name and location of the beneficiary's bank (not indicated in the check), its bank identification code (BIC), the number of the correspondent account or subaccount. In this case, it is allowed to abbreviate the name of the payer and recipient, which does not hinder the work of banks and customers;

- the purpose of the payment (not specified in the check). The tax to be paid is highlighted in a separate line in the settlement document (otherwise, there should be an indication that the tax is not paid);

- the amount of the payment, indicated in numbers and words;

- order of payment and type of transaction.

The principles of organizing settlements are the fundamental principles of their implementation. Compliance with the principles in the aggregate makes it possible to ensure the compliance of calculations with the requirements: timeliness, reliability, efficiency. The first principle - the legal regime for the implementation of settlements and payments - requires that the behavior of participants in settlement relationships comply with the rules of law and legal responsibility. The basis for this is a set of laws and regulations. The main regulator of the payment system is the Central Bank of the Russian Federation (Bank of Russia). Among its main tasks is to ensure the efficient and uninterrupted functioning of the settlement system.

The second principle is making settlements on bank accounts. A prerequisite is the existence of bank accounts with both suppliers and buyers. For settlement services, a bank account agreement is concluded between the bank and the client - an independent bilateral (participants have both rights and obligations) civil law agreement. Clients have the right to open the required number of settlement, deposit and other accounts in any currency in banks with their consent, unless otherwise provided by federal law. Banks and other credit institutions open correspondent accounts for settlements with each other - with each other (a correspondent account agreement is concluded) and without fail - in the institutions of the Bank of Russia (agreement for settlement services of the bank).

The third principle is to maintain liquidity at a level that ensures smooth payments. Compliance with this principle is a guarantee of a clear unconditional fulfillment of obligations. All payers must plan receipts, write off funds from accounts, prudently find the missing resources in order to timely fulfill debt obligations.

The fourth principle is the presence of the payer's acceptance (consent) for payment. This principle is implemented through the use of either an appropriate payment instrument (check, promissory note, payment order), indicating the owner's order to write off funds, or a special acceptance of documents issued by the recipients of funds (payment requests, bills of exchange).

At the same time, the legislation provides for cases of undisputed (without the consent of the payers) write-off of funds: arrears in taxes and other obligatory payments - on the basis of writs of execution issued by the courts, some fines on orders of claimants, direct write-off for heat and electric energy, utilities etc.

The fifth principle - the urgency of payment - stems from the very essence of the market economy, the essential condition of which is the timely and complete fulfillment of payment obligations. The significance of this principle lies in the fact that the continuously spent funds for the production of goods, the provision of services should be reimbursed through payments from buyers within the time frames stipulated by the concluded contracts.

The sixth principle is the principle of property liability for non-compliance with contractual conditions. The essence of this principle is that violations of contractual obligations in terms of settlements entail the application of civil liability in the form of compensation for damages, payment of a penalty, as well as other measures of liability. (Civil Code of the Russian Federation, Ch. 25, Art. 395)

The seventh principle - control of all participants over the correctness of settlements, compliance with the established provisions on the procedure for their implementation - is divided into preliminary, current, subsequent, internal and external control. An important role in the observance of this principle is played by the establishment in accordance with Art. 16 of the Federal Law of the Russian Federation of November 21, 1996 No. 129-FZ "On accounting" of the publicity of financial statements.

Cashless payments are carried out on the basis of settlement documents of the established form and in compliance with the relevant document flow. The choice of the form of payment is mainly determined by:

- the nature of economic ties between contractors;

- a feature of the supplied products;

- location of the parties to the transaction;

- method of transportation of goods;

- the financial position of legal entities.

Regulation of the Central Bank of Russia dated 03.10.2002. No. 2-P "On non-cash settlements in the Russian Federation" the following forms of non-cash settlements are established: settlements by payment orders, letter of credit settlements, settlements by checks and by collection.

A payment order is an order of the account holder (payer) to the bank serving him, drawn up with a settlement document, on the transfer of a certain amount of money to the account of the recipient of funds opened with this or another bank.

In settlements for goods and services, payment orders are used:

- for the goods received, work performed, services rendered (reference in the order to the number and date of the commodity transport document confirming the receipt of goods or services by the payer);

- for payments by way of prepayment for goods and services (reference in the order to the number of the main contract, agreement, contract, which provides for prepayment);

- payments to transport, utilities, household enterprises for maintenance, etc.

In settlements for non-commodity transactions, payment orders are used for:

- payments to the budgets of all levels and off-budget funds;

- repayment of bank loans and interest on loans;

- transfers of funds to state and social insurance;

- contributions of funds to statutory funds when establishing JSC, LLC, etc .;

- acquisition of shares, bonds, certificates of deposit, bank bills;

- payment of penalties, fines, penalties, etc.

The payment order is issued by the payer on the form of the established form, containing all the necessary details:

- by payer and recipient of funds - taxpayer identification number (TIN), name and account number in a credit institution (branch) or a subdivision of the settlement network of the Bank of Russia;

- for credit institutions - their name and location, bank identification code (BIC) and account number for settlement transactions.

Payment orders are accepted by the bank regardless of the availability of funds in the payer's account. In the absence or insufficiency of funds on the account, payment orders are placed in card index No. 2 and paid as the funds are received in the order established by law. In accordance with the legislation, partial payment of payment orders from the card index is allowed, while the bank uses the payment order.

The bank is obliged to inform the payer, upon his request, about the execution of the payment order no later than the next business day after the payer's contact to the bank, unless another period is provided for by the bank account agreement.

Payment orders are used for settlements in the order of planned payments, i.e. by periodically transferring funds from the buyer's account to the supplier's account at a specific time and in a certain amount based on the plan for the release of goods and the provision of services for the coming month (quarter). Settlements with planned payments are a progressive form of transferring payments, since it is based on the oncoming movement of money and goods. This leads to acceleration of settlements, reduction of mutual accounts receivable and payable, enables enterprises to better plan their payment turnover.

Settlements by payment orders have a number of advantages over other forms of settlements: relatively simple workflow, acceleration of cash flow, the ability of the payer to pre-check the quality of paid goods and services, the ability to use this form of settlement for non-commodity payments.

A letter of credit is a conditional monetary obligation of a bank issued by it on behalf of a client in favor of his counterparty under an agreement under which the bank that opened the letter of credit (issuing bank) can make a payment to the supplier or authorize another bank to make such payments, subject to the submission of documents to them, provided for in the letter of credit, and if other conditions of the letter of credit are met. The L / C is intended to serve only one supplier and cannot be forwarded. Payment from a letter of credit is carried out only by bank transfer.

Banks can open the following types of letters of credit:

- covered (deposited) and uncovered (guaranteed);

- revocable and irrevocable.

When opening a covered letter of credit, the issuing bank transfers the amount of the letter of credit at the expense of the payer or the loan provided to him at the disposal of the executing bank for the entire duration of the letter of credit. When opening an uncovered letter of credit, the issuing bank gives the nominated bank the right to write off funds from its correspondent account within the amount of the letter of credit. The procedure for debiting funds from the correspondent account of the issuing bank under a guaranteed letter of credit is determined by agreement between the banks.

Revocable is a letter of credit that can be changed or canceled by the issuing bank without prior notice to the recipient of funds. Such a letter of credit does not serve the seller as a sufficient guarantee of receipt of payment, therefore, in practice, it almost never occurs. A letter of credit is revocable unless it is expressly stated in its text that it is irrevocable. Irrevocable is a letter of credit that cannot be changed or canceled without the consent of the recipient of funds and on which there is a corresponding mark. Such a letter of credit represents a firm commitment of the bank to pay the seller for the delivery or service if the latter fulfills all the conditions of the letter of credit. The vast majority of letters of credit are irrevocable.

To open a letter of credit, an application of the payer of the established form is submitted to the issuing bank, which indicates:

- number of the agreement under which the letter of credit is opened;

- validity period of the letter of credit;

- the name of the supplier and the name of the bank executing the letter of credit;

- the name of the documents serving as the basis for payment under the letter of credit;

- the term of their submission and the procedure for registration;

- type of letter of credit and its amount;

- a list of goods, works and services for which a letter of credit is opened, and the terms of shipment;

- way of realization of the letter of credit.

When paying under a letter of credit, the beneficiary's bank (nominated bank) is obliged to verify that the supplier has complied with all the terms of the letter of credit, as well as the correctness of the register of accounts, the compliance of the supplier's signatures and stamp on it with the declared samples. Documents confirming payments under the letter of credit must be submitted by the supplier to the bank before the expiration of the letter of credit and confirm the fulfillment of all conditions of the letter of credit. If at least one of these conditions is violated, payments under the letter of credit are not made.

The closing of a letter of credit at the nominated bank is performed (in the amount of the letter of credit or its balance):

- upon expiration of the letter of credit;

- on the basis of an application by the recipient of funds to refuse from further use of the letter of credit before its expiration, if the possibility of such a refusal is provided for by the terms of the letter of credit;

- by order of the payer to revoke the letter of credit in full or in part, if such revocation is possible under the terms of the letter of credit.

Letter of credit is the most expensive form of payment. It requires additional costs for the buyer, this is due not only to the large commissions that the bank charges, but also to the fact that most of the letters of credit with which Russian firms work are "covered". This means that the buyer for the duration of the contract is diverted from circulation significant funds equal to the amount of payment under the contract.

The convenience of this form of payment for both the supplying company and the buying company lies in a certain guarantee: the timely and complete receipt of payment by the supplier, if the delivery complies with the contract; compliance of the ordered products with the stipulated conditions, which is often monitored by an authorized representative of the purchasing company.

A check is a security containing an order of the drawer to the bank to make a payment of the amount indicated in it to the check holder. The drawer can be any legal entity or individual who has funds in the bank, which he manages by issuing checks in favor of the check holder; the payer is the drawer bank.

To receive settlement checks, an application is drawn up in the servicing bank in the prescribed form, signed by the head of the enterprise, the chief accountant and certified by the seal. The application indicates the number of checks and the amount of the total need for settlements by checks, which allows you to determine the limit of one check, which must be affixed on the back of each check. Checkbooks are issued for a specific period and the total amount of the payment.

There are two types of checkbooks: limited and unlimited. The difference between them is that the receipt of a limited book is accompanied by the deposit of the total amount of the payment on a separate personal account of the drawer. This account is credited with the amount of funds deposited from the corresponding account.

An unlimited book does not provide for the deposit of funds. In this case, the cover of the check in the bank is the funds on the corresponding account of the drawer, but not more than the amount guaranteed by the bank in agreement with the drawer when issuing the checkbook. The bank can guarantee to the drawer in case of a temporary lack of funds in his account, payment of checks at the expense of the bank.

The check must contain the following mandatory details:

- the name "check" included in the text of the document;

- ordering the payer to pay a certain amount of money;

- name of the payer and indication of the account for payment;

- indication of the payment currency;

- indication of the date and place of drawing up the check;

- the signature of the person who wrote the check - the drawer. The absence of any of the specified details in the document deprives it of its legality. A check that does not contain an indication of the place of its preparation is considered as signed at the location of the drawer.

The rights to a check can be transferred, with the exception of a personal check, which is not transferable.

When calculating by checks, it should be remembered that the check must be paid in the full amount for which it was issued, without any commission (in this case, the indication of the percentage is considered unwritten). The check cannot be revoked by the drawer before the expiration of the period established by the internal banking rules for its presentation for payment (presentation of the check to the bank by the check holder).

If there is no money on the payer's account or there is not enough money, the payment requests are placed in card index No. 2. In this case, the nominated bank notifies the issuing bank of this by sending it a notice no later than the working day following the day of placing the settlement documents in the card index. The issuing bank, in turn, upon receipt of a notice from the executing bank, brings the notice of the filing into the card index to the client.

In Russia, unlike international practice, the check form of non-cash payments is less common.

Settlements for collection mean banking operations in which a credit institution (bank) undertakes, on behalf of and at the expense of the client, to take an action to receive the payment amount from the payer. Settlements for collection are formalized with a payment request and a collection order.

The payment request contains the requirement of the recipient of funds to the payer to pay a certain amount of money by withdrawing from the payer's current account, is drawn up on a form in the prescribed form and contains, in addition to the details indicated in the payment order, such details as: -

terms of payment;

- term for acceptance;

- the date of delivery to the payer of the documents stipulated by the contract;

- name of goods (works, services) and delivery date;

- number and date of the contract;

- numbers of documents confirming the delivery of goods (performance of work, provision of services);

- delivery method and other details - in the "Purpose of payment" field. The specified requirements are set for collection by the supplier after the shipment of the goods and the issuance of sales documents. The supplier's bank is obliged to send the documents to the payer's bank, collect funds from it and transfer to the supplier's current account. The payer's bank, having received the documents, informs the payer and accepts them for payment only after receiving a preliminary acceptance from him. Refusal of acceptance is also possible.

Payment for settlement documents is made as the funds are received to the payer's account in the order established by law. Partial payment of payment requests, collection orders is allowed, which is made by a payment order in a manner similar to the procedure for partial payment of a payment order, with the exception of a mark on partial payment.

A collection order is a settlement document, on the basis of which funds are debited from the payers' accounts in an indisputable manner. Collection orders are applied:

- in cases where the indisputable procedure for the collection of funds is established by law, including for the collection of funds by the bodies performing control functions;

- in cases stipulated by the parties under the main agreement, subject to the provision of the bank serving the payer with the right to write off funds from the payer's account without his order.

The main types of collection operations are simple (clean) collection and documentary (commercial). In the first case, the bank undertakes to receive money from a third party on the basis of a payment request that is not accompanied by commercial documents, and in the second, the bank must present the commercial documents received from its client. Commercial documents include invoices, shipping and insurance documents, title deeds, and any other non-financial documents.

In general, payments in the form of collection are widespread in international payments. Payments under contracts are made on the terms of a commercial loan, and foreign banks accept various documents for collection, including, in addition to the above bills and checks, stocks, bonds and others.

This form of settlement involves certain risks and must be secured by the trusting relationship of counterparties. For the supplier, the risk of late payment of invoices can be mitigated by obtaining certain guarantees from the buyer. In this case, the agreement can use various legal means of securing payment obligations (surety, bank guarantee, pledge, etc.).

The advantages of this form of calculation:

- for the supplier - banks protect his right to the goods until the payment of documents or acceptance. The right to the goods is given to the payer by documents of title, which he takes possession of after payment (acceptance). The documents remain at the bank's disposal until the moment they are paid and, in case of non-payment, are returned to the supplier's bank indicating the reasons for non-payment;

- for the payer, this form of settlement allows for maximum savings in foreign exchange resources and often payment for goods (if provided by the contract) can be made with a delay of up to 30 days from the date the bank receives documents for collection

The growth of the share of non-interest income is one of the strategic goals of Sberbank.

At the end of 2014, the share of net non-interest income in the operating income before reserves of the retail business was 22.5%.

The main driver of growth in non-interest income in the retail business is operations with bank cards, acquiring, payments and transfers.

The growth in the issue of bank cards has significantly accelerated the growth in the volume of transactions on card accounts.

Table 8 - The number of bank cards issued by Sberbank and the volume of card transactions for 2012-2014

In 2014, the growth in the issue of bank cards increased by 9%, and the turnover on card transactions increased by more than a third. The share of non-cash transactions in the total volume of card turnover is growing steadily and increased in 2014 from 19.5% to 23.8%.

Sberbank ranks first in Europe in terms of the number of issued cards.

As can be seen in Figure 10, the volume of card transactions is showing steady growth.

In 2013, Sberbank introduced new premium cards within the Premier tariff plan: Visa Platinum PayWave and World MasterCard Black Edition Paypass

Since July 2013, the credit limit for credit cards is set at the time of issue. Customers can receive the card and immediately make the first transaction. The card can be issued using a passport and one more document, and can be received at any office, regardless of the place of order. The card can also be ordered through Sberbank Online and then come to the branch for it.

In 2014, the issue of bank cards of the Russian payment system "Universal Electronic Card" (PRO100) was launched throughout Russia; the volume of issue by the end of the year exceeded 50 thousand cards. PRO100 cards are issued in the "Personal" and "Salary" categories and are accepted in the entire acquiring network of Sberbank of Russia, as well as in the infrastructure of banks participating in the UEC Payment System.

Table 9 - The number of active retail and service outlets and the Turnover in the acquiring retail network of Sberbank for 2012-2014

The number of active retail and service outlets attracted for acquiring services in 2014 increased by 130 thousand to 446.1 thousand.

Sberbank's total fee and commission income from merchant acquiring services in 2014 increased to RUB 30.4 billion (+ 43% compared to 2013). At the same time, Sberbank's share in the acquiring market grew by 3.2 percentage points to 46.4%.

The annual turnover of bank cards on the Internet increased from 17 billion rubles. up to RUB 47 billion, and the total number of customers using Sberbank's Internet acquiring service exceeded 750 organizations.

In 2012, the Bank introduced an offline payment technology in high-speed trains "Sapsan", which makes it possible to service bank cards while the train is moving in the absence of constant communication, launched acquiring of MasterCard PayPass and Visa payWave contactless cards and a pilot project on the paper check for digital signature).

In 2013, the bank continued to develop a network that accepts contactless masterCard cards payPass and Visa payWave. At points of sale and service 433 thousand terminals accept them.

Together with the Moscow Metro State Unitary Enterprise, Sberbank has implemented a pilot project to accept Visa PayWave and MasterCard PayPass contactless cards as payment for tickets at metro kiosks. 64 ticket vending machines were installed at 10 Moscow metro stations; the plans are to equip all metro stations with automatic machines.

In cooperation with GKU "Administrator of the Moscow Parking Space" and the company "ASPARK", Sberbank began accepting bank cards at parking machines in Moscow. 350 machines, acquiring services of which are provided by Sberbank, are installed within the Garden Ring. They can pay for parking using Visa and MasterCard bank cards with a magnetic stripe and a micro-processor, as well as contactless Visa payWave / MasterCard PayPass cards.

In July 2013, at the Bolshoi Ice Arena of the Sochi Olympic Park, for the first time in Russia, the acceptance of cards was launched on a self-service vending machine that works without a cashier. In total, more than 150 such devices are located at the Olympic venues.

The Bank has successfully implemented an innovative technology of mobile acquiring, which allows you to pay for goods and services using magnetic stripe cards or chip cards using a mobile phone.

As the official acquirer of the 2014 Olympics, Sberbank, in cooperation with the Sochi 2014 Organizing Committee and the ticket operator for the Olympic Games, arranged payment for tickets for the games with bank cards. The bank also provided acquiring for the exchange of purchased tickets for the Olympic events by fans.

At the end of 2012, Sberbank's share in the pension payment market increased by 5.3 percentage points, exceeding the 50% bar for the first time, and as of January 1, 2013 it amounted to 51.4%. In 2012, 3.3 million pensioners (excluding mortality) were attracted to receive pensions through Sberbank, of which more than 1 million through consulting points in PFR divisions.

In 2012, the Bank increased its share in the payroll market by 5.7 percentage points. and exceeded the 37% mark. More than 28 million individuals regularly receive salaries on the Bank's cards.

Sberbank has launched a new technology that simplifies the process of paying salaries to clients' employees. It is enough for an enterprise to provide the Bank via the Sberbank Business Online system with a register - a list of employees and amounts to be paid. After that, online, subject to the availability of funds in the company's current account, wages are instantly credited to employees' cards. The process is fully automated, the Bank's operational employees do not participate in it, and the probability of operational errors is completely excluded.

The number of working salary cards in 2013 increased by 1.9 million to 21.1 million. The volume of salary transfers increased by 28% to RUB 6,273 billion.

The number of pensioners receiving social pensions through Sberbank has increased. At the same time, the share of pensioners receiving their pension through Sberbank increased.

Since July 2013, all new Visa and MasterCards of Sberbank have been equipped with a chip, which significantly increases the level of security of the data stored on the card and is an effective method of combating skimming. Cards with a chip have a higher degree of protection than cards containing only a magnetic stripe: all operations require a PIN code, information from the chip cannot be copied. In addition, the entire network of self-service devices and sales and service points of Sberbank is equipped to accept chips, which allows transactions to be carried out using the chip, and not along the magnetic stripe, which remains on the card according to the requirements of payment systems.

Throughout the network, cards are issued without PIN envelopes: at the moment of receiving the card at the department, the client can choose the PIN code that is easier for him to remember. Previously, this technology was used for instant cards, now - for all cards.

Sberbank has successfully launched the Campus Card pilot project at the Mari State University. Students received a multifunctional card, which is the key to management bank account and is integrated into the infrastructure of the university: pass, grade book, access to the electronic library.

SMS-informing the client about the issue of a card in his name has been introduced, which can significantly reduce the risk of unauthorized issuance of bank cards.

The most significant service of the Bank from the point of view of the number of transactions remains the acceptance of payments from the population (money transfers in favor of legal entities). Their volume in 2012 amounted to 2,446 billion rubles, and the total number of accepted payments exceeded 1.1 billion. At the same time, there was a stable growth in the number of payments made in non-cash form (the growth in the number of payments from client accounts exceeded 70%). This dynamics is largely ensured by expanding the range of possible payments in information and payment terminals, the development of mobile and Internet banking, as well as the active growth of the client base of the Autopayment service.

Taking into account the high share of the Bank in the market of payments to the budget system of the country, the optimization also affected the services in this area. Thanks to the launch of the federal service for making payments to the Federal Tax Service according to the document index, the share of non-cash payments to the budget for the year increased from 2.5% to 8%.

Another new service in 2012 was the ability to repay loans issued by other banks through information and payment terminals. During the year, loans from third-party banks were repaid for more than 15 billion rubles.

In 2012, the Bank successfully developed the Auto Payment service, which allows you to automatically pay for housing and communal services, fixed and cellular telephony services, and Internet access services from a bank card account. The number of customers using this service as of January 1, 2013 exceeded 6.7 million.

In December 2012, Sberbank took an important step towards increasing its presence in the fast-growing Internet payments market: it was decided to combine the Bank's infrastructure with Yandex Internet technologies. Sberbank signed an agreement to acquire a 75% stake minus 1 ruble in Yandex.Money.

In 2012, the volume of remittances between individuals increased by half. Transfers from card to card developed most dynamically due to their convenience: the volume of transfers increased by more than 2.5 times over the year, to almost 1 trillion rubles.

In 2013, Blitz translations were re-branded - now it is a Kolibri product. Internal transfers Kolibri has been modified to work online: translation across the country takes less than 10 minutes.

Sberbank continues to develop the Autopayment service. For the convenience of customers, the ability to set a daily limit on the amount of Auto Payments for cellular communication has been introduced. 21.5% of payments for cellular communications are carried out using "Auto Payments". The number of customers using the Autopay service for cellular communications exceeded 10.8 million people. In general, the Bank's share in the market of payments for cellular communications exceeded 30%.

The Bank has expanded the functionality of the Auto Payment for Housing and Utilities Service - the number of organizations in whose favor the service can be connected has increased. The number of clients of the service "Auto payment for housing and communal services" increased to 2 million people. Launched automatic payment of loans from third-party banks. For the first time in Moscow Bank, “Autopayment” was launched using free account details, which makes it possible to automate any regular customer payment.

In 2014, there was a steady growth in payments from individuals in favor of legal entities for all major types of payments. The average number of payments increased by 27% and amounted to 10 million per day. Sberbank has become the leader in accepting payments for housing and communal services, where the bank holds 35% of the market, and for cellular communications - 39% of the market. This result was achieved thanks to the active development of non-cash payments through the channels of the Mobile Bank SMS service and Sberbank Online. A total of 19.6 million Sberbank customers were subscribed to the Autopayment service (+ 35% per year). The number of subscribers to the Auto Payment - Cellular Communication service reached 12.9 million. 6.7 million people in more than 100 cities of Russia use the Auto Payment for Housing and Utilities Service.

In 2014, the volume of transfers increased significantly. The increase was 60%, the total amount of transfers for the year - 4.3 trillion rubles. The growth was mainly driven by card transfers.

The growth in the volume of non-cash payments and transfers was facilitated by the development of services provided by Yandex.Money, a subsidiary of Sberbank. In 2014, within the framework of the integration program with Yandex.Money, we continued to improve Sberbank's payment solutions, expand the range of joint services and reach the client base. Sberbank has become the main channel for replenishing Yandex.Money e-wallets with a replenishment volume of over 1 billion rubles per month. The directions of distribution of digital goods of Yandex.Money partners to Sberbank Online and the replication of the Pay via Sberbank solution in Yandex.Money products are actively developing.

Conclusion

I had an internship for 23 days in the Central ChB of Sberbank 8593/04, Lipetsk, in the department for work with individuals. At the beginning of my internship, I studied the necessary regulatory framework for working in the department for working with individuals:

Bank of Russia Regulations No. 205-P dated 05.12.2002 "Rules for Accounting in Credit Institutions Located on the Territory of the Russian Federation";

2. Regulation of the Bank of Russia No. 2-P of 03.10.2002 "On cashless payments in the Russian Federation";

3. Regulation of Sberbank of Russia No. 662-r dated 12/14/2000 "On the Operations Department of the Central Office of Sberbank of Russia";

4. Rules of Sberbank of Russia No. 304-2-r dated 04.11.2000 "Rules of document flow and technology for processing accounting information in Sberbank of Russia";

5. Regulation of Sberbank of Russia No. 355-3-r dated March 27, 2002 "On conducting interbranch settlements in Sberbank of Russia";

6. Rules of Sberbank of Russia No. 881-2-r dated 03.13.2003 “Rules of internal control in order to counter the legalization (laundering) of proceeds from crime and the financing of terrorism”;

7. Order No. 814-3-r of 04/14/2004 “Procedure for opening, closing and maintaining accounts of legal entities by Sberbank of Russia and its branches”.

It was in practice at Sberbank that I had the opportunity to compare theoretical foundations and knowledge with practical activities.

I got acquainted with all forms of non-cash payments and worked with the following settlement documents: payment orders, checks, payment orders, collection orders, payment orders and memorial orders.

I learned how to draw up and pay the transfer "Kolibri", to carry out non-cash payments with physical. persons, transfer of funds from card to card of Sberbank.

Since, in accordance with the services of the bank, it is possible to provide account statements (at the client's request), provide an extract of current account transactions, provide a duplicate account statement, provide a duplicate of a payment document at the client's request, as well as perform currency control, clarify details and etc., then, accordingly, Sberbank collects a commission, which is drawn up with a memorial order.

Before the process of getting to know the department's document flow, every day I registered payment requests in a special journal for registering payment requests, where I indicated the date of the request, the payer's account number, the name of the recipient and the amount. I also registered collection orders in another special journal, but their recording required the signature of the controller supervising a certain organization.

The work actually turned out to be very laborious and gave rise to many questions from my side to the manager and helped to understand the intricacies of the workflow.

I find the advantages of the internship I have completed in the fact that I got acquainted with a large amount of information on which banking activity is based, got acquainted with the computer work programs of Sberbank and acquired the skills to work with its internal documentation.

After examining the measures that are proposed to improve the payment system, it was revealed that the proposed measures will significantly change the payment system of the Russian Federation, improve monetary policy, expand non-cash payments, and introduce modern technologies and methods of information transfer. Service for all settlement participants should become more efficient and reliable. These measures will help stabilize the payment system, bring it closer to world standards, and ensure financial stability of monetary policy.

List of sources used

1 Civil Code of the Russian Federation (part 2): FZ of January 26, 1996, No. 14-FZ (as amended on November 30, 2011)
2 On banks and banking activities: Federal Law dated 02.12.1990 No. 395-1 (as amended on 03.12.2012)
3 On the Central Bank of the Russian Federation (Bank of Russia): Federal Law No. 86-FZ dated July 10, 2002 (as amended on December 3, 2012).
4 On the national payment system: Federal Law of June 27, 2011. No. 161-FZ;
5 On the rules for making money transfers: Regulation of the Bank of Russia dated June 19, 2012 No. 383-P.
6 On the rules for the exchange of electronic documents between the Bank of Russia, credit institutions (branches) and other clients of the Bank of Russia when making settlements through the settlement network of the Bank of Russia: Bank of Russia Regulation No. 20-P dated March 12, 1998
7 On the issue of bank cards and on transactions performed using payment cards: Regulation of the Bank of Russia No. 226-P dated 24.12.2004
8 On the rules of accounting in credit institutions located on the territory of the Russian Federation: regulation of the Bank of Russia dated July 16, 2012 No. 385-TT.
9 Trachuk A. V. Prospects for the development of non-cash retail payments / A. V. Trachuk // Finance and credit. - 2012. - No. 7. - S. 24-32
10 Cash and electronic means of payment: problems, trends // Finance and credit. - 2012. - No. 7. - S. 3-23
11 National payment system of Russia: problems and development prospects / NA. Savinskaya [and friend.]; ed. Dr. econ. Sciences, prof. ON. Savinskaya, doctor of windows, sciences, prof. G.N. Beloglazova. - SPb. : Publishing house of St. Petersburg State University of Economics, 2011. - 131 p.
12 Kokorev N. Cashless monetary settlements // Financial newspaper. Regional edition.-2010.-№25.- P. 32.
13 Devyatlovsky V. N. Principles of organizing cashless payments / V. N. Devyatlovsky // International Journal of Applied and Fundamental Research. 2012. - No. 12. - S. 107-109
14 Devyatayeva N.V. Problems of improving the system of cashless payments in Russia / N.V. Devyatayeva // Money and credit. - 2011. - No. 9. - S. 3-11
15 Berezina M.P. Cashless payments in Russia: features of the organization and areas of improvement // Finance and Credit, - 2011. - No. 5. - S. 24.
16 Bulatov M.A. Improvement of non-cash payments // Accounting and banks. 2011. -№4.-p. 28.
17 www.sbrf.ru Official website of Sberbank of Russia 18 www.cbr.ru Official website of the Bank of Russia
19 Annual report of Sberbank of Russia for 2012
20 Annual report of Sberbank of Russia for 2013
21 Annual Report of Sberbank of Russia OJSC for 2014

Practice report at PJSC Sberbank updated: July 31, 2017 by the author: Scientific Articles.Ru

License agreement for the right to use the computer program "LIK: EXPERT" for 1 (one) workplace for a period of 1 (one) year at the rate LIK: EXPERT LE1

This License Agreement is an offer of CJSC LIK OGRN: 1137746308039, INN / KPP: 7719841799/771901001, address: 105679, Moscow, Izmailovskoe shosse, 44, hereinafter referred to as the Licensor, to the User of the computer program "LIK: EXPERT" , hereinafter referred to as the Licensee.

Acceptance for the purposes of this License Agreement is the fact of payment of remuneration under this Agreement, or the fact of starting to use (acceptance of the License Agreement upon launch) of the LIK computer program, depending on which event occurs earlier.

1. Definition of terms

1.1. The computer program "LIK: EXPERT" is the result of intellectual activity - a software and information complex designed to obtain open and publicly available data on legal entities and individual entrepreneurs. Further - software "LIK".

1.2. License Agreement - the rules for using the LIK software, accepted by the Licensee when launching the LIK software.

1.3. Identification data: Login and Password - allow to identify the Licensee.

1.4. Workplace - a set that includes software and identification data.

2. Subject of the contract

2.1. The subject of this License Agreement is the transfer by the Licensor of non-exclusive rights to use the result of intellectual activity - LIK software - to the Licensee under the terms of a simple (non-exclusive) license by opening access to the Licensor's database server in accordance with the Tariff selected by the user.

2.2. The owner of the exclusive right to the LIK software and information complex is ZAO LIK OGRN: 1137746308039, INN / KPP: 7719841799/771901001, address: 105679, Moscow, Izmailovskoe shosse, 44.

2.3 The Licensor may transfer his rights to distribute a simple (non-exclusive) license for the LIK software to a Partner, in accordance with an additionally concluded agreement.

2.4. The licensor reserves the right to the content, name, any commercial and non-commercial use of the LIK software and any documents related to it, including copyright and other rights.

2.5. Access to the LIK software is provided within 1 (one) business day from the date of payment of the fee.

technical support

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3.1. The LIK software is the result of the Licensor's intellectual activity and is protected by copyright laws of the Russian Federation. The LIK software does not use any elements that violate the rights of third parties.

3.2. The right to use the LIK software is granted only to the Licensee, without the right to transfer to third parties, only to the extent stipulated by this License Agreement, unless the Copyright Holder has written otherwise. The licensee is prohibited from receiving income from the resale of information obtained using the LIK software.

3.3. The Licensor guarantees that all information that can be obtained by the Licensee using the LIK software is legally obtained on the basis of Article 6 of the Federal Law of 08.08.2001. 129-FZ "On state registration of legal entities", according to which the information contained in the unified state register of legal entities and the unified state register of individual entrepreneurs (with the exception of passport data of individuals, information on accounts and place of residence of an individual entrepreneur) are open and publicly available. Changes in information about legal entities and individual entrepreneurs are accumulated by the system as new data is received. Its volume is determined by the sources of information, as well as the ability to receive and process this information.

3.4. In cases where the Licensee violates the terms of this agreement or detects robotic requests to the LIK software, the Licensor may block the Licensee's access to the LIK software, or a restriction may be imposed on the number of calls to the LIK software in terms of searching and obtaining information.

3.5. The licensor has the right to set technical limits on the number of requests to the system. Basic restrictions on the number of objects issued by the LIK software included in the LIK tariff plan: EXPERT LE1: total - 600,000 during the entire period of the license validity, for extracts from the Unified State Register of Legal Entities with EDS - up to 100 per day, for extracts of the USRN - up to 5 per day.

3.6. The LIK Software is provided to the Licensee "as is" ("AS IS"). The licensor does not guarantee that the LIK software will work on any hardware, on any workstation, together with any other applications without errors.

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4.1.2. Timely software updates.

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4.3.1. Do not attempt to copy, modify, decompile, disassemble the LIK software.

4.3.2. Do not use the data obtained from the LIK software for resale to third parties.

4.3.3. Do not use your LIK software login credentials for transfer and resale to third parties.

4.3.4. Comply with the terms of the License Agreement.

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4.4.1. Gaining round-the-clock access to the database server using the LIK software, except for the time of maintenance work.

4.4.2. Getting qualified technical support.

4.5. Without conflicting with the terms of the offer, the Licensor and the Licensee have the right at any time to execute the License Agreement in the form of a written bilateral document.

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5.1. This agreement comes into force upon acceptance of the terms of this agreement and is valid for the period established by the license. The Agreement may be extended by the Parties for a new term.

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Accounting (financial) statements of Sberbank of Russia PJSC

Sberbank of Russia draws the attention of users to the fact that the indicators in this press release are calculated according to the internal methodology of Sberbank of Russia. Data as of January 1, 2014 include events after the reporting date. Data as of January 1, 2015 do not include events after the reporting date.

Dynamics of the main items of the statement of financial results in 2014 relative to 2013:

- net interest income increased by 18.3%;
- net fee and commission income increased by 21.4%;
- commission income not related to lending increased by 24.0%;
- operating income before total reserves increased by 26.8%;
- the cost of creating total reserves amounted to 397.7 billion rubles. against 104.8 billion rubles;
- operating expenses increased by 9.6%;
- profit before income tax decreased by 14.3% and amounted to 400.1 billion rubles.
- Net profit amounted to RUB 305.7 billion. (excluding events after the reporting date) against 377.7 billion rubles. in 2013 (taking into account events after the reporting date). The main factors behind the decline in profit in 2014 were significant expenses on reserves, the exclusion from the financial result of the revaluation of foreign currency investments in subsidiaries, as well as the recognition from May 2014 of a deferred tax liability due to changes in accounting rules.

Net interest income amounted to RUB 853.7 billion, an increase of 18.3% previous year:

- interest income increased by 313.4 billion rubles. due to the growth of the portfolio of loans to legal entities and individuals;
- interest expenses increased by 181.2 billion rubles. by increasing the volume of customer funds (both individuals and legal entities), as well as by increasing the volume and cost of raising funds in the Bank of Russia; the value of funds from the Federal Treasury and the Bank of Russia increased especially strongly in December after the key rate was raised to 17%.

Net fee and commission income amounted to RUB 276.9 billion, which is 21.4% higher than in the previous year. Fee and commission income not related to lending increased by 24.0%. The main contribution to this growth was made by operations with bank cards and acquiring operations - their growth for the year amounted to 32.2% or 30.7 billion rubles, while in December 14.9 billion rubles were earned. This growth in December was driven by a significant increase in the volume of transactions by cardholders. In 2014, commission income from the issuance of bank guarantees, the implementation of trade finance and documentary business transactions, and the sale of insurance and investment products also grew at a faster pace.

Net income from foreign exchange revaluation and from trading operations in financial markets in 2014 amounted to 81.2 billion rubles, which is 3.7 times more than last year. The main impact was the creation of reserves for foreign currency loans due to the positive revaluation of these loans as a result of the devaluation of the ruble at the end of 2014 without deteriorating the quality of loans themselves (only in the 4th quarter of 2014 - about 48 billion rubles). At the same time, according to the rules for regulating the open foreign exchange position of banks, reserves for impairment of foreign currency loans were included in foreign exchange claims and liabilities for managing foreign exchange position. The revaluation of these claims and liabilities, as well as all foreign exchange assets and liabilities denominated in foreign currency, was reflected in the item of income from trading operations. Thus, the creation of reserves for foreign currency loans technically affected the growth of income from trade operations.

Overall, operating income before total reserves increased by 26.8% and exceeded RUB 1.25 trillion.

Operating expenses increased by 9.6%. The cost-to-income ratio decreased by 5.8 pp. up to 36.6% due to the cost optimization program carried out by Sberbank. The growth rate of operating income to total reserves (26.8%) significantly exceeds the growth of operating expenses (9.6%).

Expenses on total reserves in 2014 amounted to RUB 397.7 billion. against 104.8 billion rubles. a year earlier. More than 45% of the increase in reserves occurred in the 4th quarter. During this quarter, the volume of reserves was influenced by a sharp depreciation of the ruble against major currencies, which technically led to the creation of additional reserves for foreign currency loans without deteriorating the quality of loans. In addition, a reserve was created for a number of large Ukrainian borrowers in connection with the worsening situation in Ukraine.

In general, the bank continues to create reserves for possible losses in accordance with the requirements of the Bank of Russia, adhering to a conservative approach to covering existing credit risks. The reserves created on the balance sheet exceed the overdue debt by 2.6 times (as of January 1, 2014, 2.2 times).

Profit before income tax decreased by 14.3% compared to 2013 and amounted to 400.1 billion rubles. Net profit amounted to RUB 305.7 billion. (excluding events after the reporting date) against 377.7 billion rubles. in 2013 (taking into account events after the reporting date).

Assets for the year increased by 33.2% and amounted to 21.8 trillion rubles. Almost a third of the growth was due to the positive revaluation of the currency component of assets as a result of the weakening ruble. Most of all, the balance of loans to legal entities and individuals increased in the bank's balance sheet.

In December, the bank provided loans to corporate clients in the amount of 1.4 trillion rubles. In total, about 8 trillion rubles were issued in a year. - 8.8% more than a year earlier. The corporate loan portfolio increased in December by RUB 893 billion. In general, the portfolio grew by RUB 3.1 trillion over the year. or by 36.3% and amounted to 11.7 trillion rubles. The growth was due to both new loans issued and a positive revaluation of previously issued foreign currency loans, which arose due to changes in exchange rates.

Private clients received more than RUB 200 billion in December, and RUB 2 trillion since the beginning of the year. loans, which is 10% more than the volume of issuance for the last year, excluding the turnover of credit cards. The loan portfolio of private clients increased in December by 55 billion rubles. Over the year, the portfolio has grown by 737 billion rubles. or by 22.1% and amounted to almost 4.1 trillion rubles. Home loans account for about half of the bank's retail portfolio.

The share of overdue debt in the loan portfolio as of January 1, 2015 amounted to 2.0%, having decreased by 0.2 percentage points over the year.

The volume of investments in securities for the year decreased by 35.9 billion rubles. or 1.8%. Their balance as of January 1, 2015 amounted to 1.9 trillion rubles.

Funds of legal entities in December increased by 966 billion rubles. due to seasonal growth of time deposits and revaluation of previously attracted foreign exchange funds. The increase in total for the year amounted to 1,949 billion rubles. or 62.5%. The balance of funds of legal entities as of January 1, 2015 amounted to 5.1 trillion rubles.

Funds of individuals in December increased by 192 billion rubles. both due to the inflow of funds and due to the revaluation of foreign currency deposits. Over the year, individuals' funds increased by 473 billion rubles. or by 5.9% and as of January 1, 2015 amounted to 8.5 trillion rubles.

The values \u200b\u200bof the base and fixed capital of Sberbank coincide due to the lack of sources of additional capital and, according to operational data as of January 1, 2015, amount to RUB 1,630 billion. The total capital on the same date is RUB 2,254 billion.

- Н1.1 - 8.2% (the minimum value established by the Bank of Russia, 5%)
- Н1.2 - 8.2% (the minimum value established by the Bank of Russia, 5.5%)
- Н1.0 - 11.2% (the minimum value, taking into account the requirements of the Law "On Deposit Insurance" 10%).

"Annual Report of Sberbank for 2015 Approved by the Supervisory Board of Sberbank Minutes No. 16 dated 04/12/2016 Confirmed by the Audit Commission ..."

-- [ Page 1 ] --

Approved by the Annual General Meeting

shareholders of Sberbank

Minutes No. 29, 01.06.2016

Annual report

PJSC Sberbank

for 2015

Approved by the Supervisory Board

PJSC Sberbank

Minutes No. 16, 12.04.2016

Confirmed by the Audit Commission

PJSC Sberbank

RAP, unconsolidated data April 2016

Introduction

The 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

Attracting funds from private clients

Sources of non-interest income

Development of remote service channels

New service model in VSP

Retail sales model

Quality of service

Single Distributed Contact Center

6. Operations with your own portfolio of securities. Investments

7. Risk management

Integrated risk management of the Group

Credit risks

Liquidity risk

Country risk

Interest rate and currency risks in the banking book

Operational risk

8. Personnel

9. Development of information technology

10. Administrative and economic activities

11. Office 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

Address of the Chairman of the Supervisory Board S.M. Ignatieva

Corporate governance system

General Meeting of Shareholders

Supervisory Board

Supervisory Board Committees

Corporate secretary

Executive bodies of the Bank

Monitoring and reporting

Supervisory board and management remuneration

Big 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 by Sberbank1 on the results of the Bank's development in 2015 in priority areas of activity.

The priority areas of the Bank's activities are:

Operations with corporate clients: servicing settlement and current accounts, opening deposits, providing financing, issuing guarantees, servicing export-import operations, cash collection, conversion services, money transfers in favor of legal entities, etc.

Operations with retail clients: accepting funds as deposits and securities of the Bank, lending, servicing bank cards, operations with precious metals, buying and selling foreign currency, payments, money transfers, storage of valuables, etc.

Operations in financial markets: with securities, derivative financial instruments, foreign currency; placement and raising of funds in the interbank market and capital markets, etc.

The Bank operates under the General License No. 1481 for banking operations with funds in rubles and foreign currency, issued by the Bank of Russia on August 11, 2015. In addition, Sberbank has licenses for banking operations to attract deposits and placements of precious metals, other operations with precious metals, licenses of a professional participant in the securities market to conduct brokerage, dealer, depository activities, as well as to manage securities.

This Report has been compiled in accordance with the legislation of the Russian

Federation, including:

Federal Law of 22.04.1996 N 39-FZ "On the Securities Market", Federal Law of 26.12.1995 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 FFMS of Russia 02.02.2012 No. 12-6 / pz-n, Regulation of the Bank of Russia dated 30.12.2014 No. 454-P "On disclosure of information by issuers of equity securities", taking into account the changes introduced by the Ordinance 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 application by the Bank of Russia on April 10, 2014 3.

The report has been compiled on the basis of published reporting forms (Russian accounting rules, unconsolidated data), as well as the Bank's internal statistical reporting forms. Events after the reporting date as of January 1, 2015 and January 1, 2016 are accounted for.

The annual accounting (financial) statements of the Bank for 2015 are posted on the Internet at the Sberbank website www.sberbank.com.

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The main factors behind 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 influenced by the positive revaluation of their currency component due to the weakening of the ruble against the main foreign currencies: the US dollar exchange rate increased over the year by 29.5% to 72.9 rubles / dollar. USA, the euro exchange rate - by 16.6% to 79.7 rubles / euro.

The capital, calculated according to the Regulation of the Bank of Russia No. 395-P, in 2015 increased by 347 billion rubles. and amounted to 2 658 billion rubles. The main factors that increased the capital were the earned net profit and the inclusion in the additional capital of a subordinated loan from the Bank of Russia in the amount of RUB 200 billion, attracted in 2014 under Federal Law No. 173-FZ6 to finance active operations.

In December 2015, the Bank also included in its capital a subordinated loan from APF7. The capital dynamics was also influenced by the Bank's gradual transition to Basel III requirements, which is carried out within 5 years for some calculation items.

Assets adjusted for risk in 2015 increased by RUB 2,534 billion. The impact of the devaluation of the ruble was partially mitigated by the permission of the Bank of Russia to use a preferential rate for foreign currency assets recorded in accounts before December 31, 2014.

Sberbank's total capital adequacy ratio (N1.0) as of January 1, 2016 amounted to 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, RUB 311.2 billion). The main factor behind the decline was net interest income, which declined at the beginning of the year due to a sharp increase in interest rates on the market and large volumes of funds raised. By the end of the year, Sberbank managed to close the gap with the results of 2014, mainly due to the repayment of state financing, the development of commission operations, and the consistent implementation of the cost reduction program.

Hereinafter in the tables, the given indicators may differ from the calculated ones due to rounding of the 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 28.12.2012 effective as of the respective reporting date (hereinafter referred to as the Bank of Russia Regulation No. 395-P) Federal Law No. 173-FZ of October 13, 2008 "On Additional Measures to Support the Financial System of the Russian Federation"

Sberbank Non-State Pension Fund Main financial results of 2015

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Assets in 2015 grew by 4.4% and amounted to 22.7 trillion rubles. Their growth was mainly due to the increase in the loan portfolio of clients. The net loan debt of clients increased by 6.2% over the year and reached about 16.9 trillion rubles. Over the past year, the volume of loans issued to corporate clients amounted to about 6.8 trillion rubles. Private clients received more than RUB 1.2 trillion per year. Also, the growth of assets was influenced by the increase in net investments in securities, which occurred mainly due to the acquisition of securities in the portfolio for sale and the effect of foreign exchange revaluation.

The decrease in the volume of funds occurred mainly in January and was associated with a decrease in the demand for cash due to a decrease in the volatility of the ruble exchange rate.

Various sources of raising funds 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 attracted funds from both corporate clients and individuals increased both in ruble accounts and in foreign currency. Despite the persistence of geopolitical tensions in 2015 and the remaining closed external markets, the Bank significantly reduced its dependence on state financing (the volume of the Bank of Russia funds on the Bank's balance sheet decreased over the year from 3.5 trillion rubles to 0.8 trillion rubles) due to attracting additional funds from clients. The inflow of customer funds also allowed the Bank to early repay a number of expensive borrowings in foreign currency from foreign markets.

Taking into account the persisting sanctions and the unstable macroeconomic situation, in order to reduce liquidity risks, the Bank significantly increased the volume of liquidity reserves8 mainly due to the active work in 2015 to increase the collateral under the 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 was RUB 1,221 billion. against 1 319 billion rubles. a year earlier.

Interest income increased by 20.3%. Loans to legal entities brought 57% of interest income, their growth was due to the growth of volumes and profitability of loans. Loans to individuals brought 32% of interest income, their growth was ensured by an increase in retail lending, mainly mortgage.

Opportunities of the Bank to raise funds from the Bank of Russia within the framework of the existing refinancing instruments of the Bank of Russia Regulation of the Bank of Russia No. 312-P of 12.11.2007 "On the procedure for the provision of loans secured by assets or guarantees by the Bank of Russia to credit institutions"

Main financial results of 2015

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The Bank increased its net fee and commission income despite a decrease in fee and commission income from lending operations and bank insurance. The main growth was provided by operations with bank cards and acquiring due to the growth of issued cards and an increase in the number of customers using acquiring services at 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 was ensured by the implementation of the cost optimization program. The bank has optimized the procurement system, including the direction of information technology, increased the efficiency of using real estate objects.

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In 2015, the Bank's expenses for the formation of the reserve amounted to RUB 294.4 billion, which is close to the volume of the previous year. In the difficult general situation in the economy, Sberbank keeps the quality of assets at a stable level. Part of the created reserves is associated with the growth of the portfolio, and not with its deterioration, another part is associated with the weakening of the ruble, which required additional reserves for foreign currency loans without deteriorating the quality of them. The share of overdue loans in Sberbank remains twice as good as 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, RUB 311.2 billion)

The position of the joint stock company in the industry

3. The position of the joint-stock company in the industry In 2015, the dynamics of banking markets was influenced by the economic downturn 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 - a drop in world oil prices and a 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, excluding foreign exchange revaluation, decreased by 1.6%. For comparison - in 2014, the assets of banks increased by 35.2%.

The loan portfolio of the banking system grew by 8.2%, which is significantly less than a year ago, when the growth was 25.4%. At the same time, there was a multidirectional dynamics: 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 the population in 2015 amounted to 54.3%.

The increase in loan provisions was 30.8%, which is lower than the increase in the previous year (43.1%). Amid deteriorating financial condition of banks and increased pressure on capital, the coverage of overdue debt by reserves decreased from 1.8 to 1.5 times.

Household deposits remained the main source of resources, increasing by 25.2% over the year, or excluding foreign exchange revaluation by 16.7%. In 2014, deposits increased by 9.4%. Funds of legal entities increased by 14.1%, a year earlier - by 32.2%.

The inflow of customer funds with the stagnation of the lending market allowed banks to reduce the volume of refinancing by the regulator by 42.3%. A year earlier, funds raised from the Bank of Russia by the banking sector grew 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 (15% a year earlier).

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The calculation was made according to the internal methodology of Sberbank based on data from the Bank of Russia Corporate business

4. Corporate business

The main achievements of 2015 in the field of work 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.

The work to attract funds from corporate clients was of great importance, since during the year the Bank replaced expensive funds of the Bank of Russia with client funds.

The Bank has introduced innovative online services that make it easier for clients to do business: registering a business, submitting reports to the Federal Tax Service and other authorities in electronic form through Sberbank's systems, and booking a current account.

The overwhelming majority of operations are carried out by Sberbank clients in remote channels: 97% of operations 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 clients' deposits are opened remotely.

All corporate clients of the Bank now have the opportunity to make payments to counterparties to their accounts with Sberbank seven days a week in 17x7 mode - on the current day with

6.00 to 23.00, including weekends and holidays.

Technical support of services for companies was assessed at the CNews AWARDS competition, where Sberbank won in 2015 in the nomination "For organizing technical support for corporate clients".

Sberbank launched the Sberbank FinLine remote banking system for financial institutions - a service for managing accounts and settlement 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 RUB 6.8 trillion. The corporate loan portfolio grew by 5.2% to RUB 12.2 trillion. Foreign currency loans account for about 37% of the corporate loan portfolio. The bank actively interacts with clients of various sizes and different forms of ownership. The segment structure of the portfolio is presented below.

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Corporate business "CIB" block

Working with major clients In 2015, a target business model for the CIB block was developed. The criteria for assigning customers to segments have changed: the criterion for the holding's annual revenue has been increased from 15 to 30 billion rubles. In this regard, a part of the clients of the CIB block is transferred to the Corporate Business block.

The new system of interaction with the customer depends on the potential in product sales and profits. Customer service teams continue to work. Sales campaigns for 9 products have been launched: payroll projects, trade finance and documentary operations, foreign economic activity, conversion operations, acquiring, cash collection, turnover on correspondent accounts, liabilities, MB&A products.

The position of the CIB operational manager has been 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 enables 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 involvement of government guarantees, as well as for long-term financing of large investment projects in cooperation with other banks.

In 2015, the Bank introduced new products that are in high demand among customers. Among them are Key +, domestic Russian 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 formed. Trade finance cooperation agreements were signed with leading Chinese banks worth more than USD 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 the challenging macroeconomic environment, the CIB's customer satisfaction index, based on an independent survey, rose 1 point year-on-year to 78.5.

Among the innovations in the technological field, one can highlight the launch by the Department of Global Markets of a brokerage platform on the iPad and an options trading system on the ORC platform. The 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 Trade Finance and Correspondent Relations Department 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 its corporate business structure.

The transition to a targeted legal and organizational structure of the CIB is taking place.

The CIB vertical was formed in the regions, the verticals for lending, real estate financing and monitoring of credit operations were highlighted. 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 direction of trading in the foreign exchange market in 2015 are associated with the implementation of large conversion transactions with corporate clients in the amount of more than USD 1 billion without affecting the exchange rate, with the launch of a new product forward with an open date, with the optimization of operations, made through the Visa payment system, as well as with the launch of the Sberbank markets e-commerce platform in pilot operation.

Operations with foreign exchange interest rate derivatives and dynamic management of counterparty credit risk developed.

New products launched:

a loan with a built-in quantum 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 decrease in the volume of debt of credit institutions in rubles and US dollars to the monetary policy authorities, while refinancing occurred primarily due to the growth of short-term foreign exchange liabilities of banks. Against this background, Sberbank increased its reverse repo portfolio from USD 1.5 billion to USD 3 billion.

Also, new products were implemented that allow:

Place US dollars and euros through repo transactions on the Moscow Exchange both in the inter-dealer market and through a central counterparty;

Carry out operations of borrowing securities without collateral, which allows the Bank to attract additional liquidity;

Conclude repo deals with a floating rate.

In the area of \u200b\u200btrading in commodity markets, a number of significant 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 in zinc, copper, nickel and aluminum.

The direction of trading in debt instruments is developing by working with clients to identify cross-interest in securities and by correctly positioning in the market with narrowing spreads and falling yields.

Significant events of 2015 were:

A major deal on the acquisition of OFZ with a floating coupon as part of a syndicate of banks;

Corporate business

A new product - exchange-traded bonds with a floating par value, where Sberbank acted as one of the underwriters of the debut OFZ issue with par value linked to inflation;

The first transaction on the purchase of a credit note for a loan on the balance sheet of Sberbank Switzerland;

Registration by the Moscow Exchange of the Sberbank's Structured Exchange Traded Bond Program under Russian law: 34 series of bonds with a total par value of RUB 50 billion.

Market conditions in the face of external constraints did not allow for a rapid increase in turnover in brokerage operations in stocks and equity derivatives. Under these conditions, the Bank developed a technological platform for trading equity derivatives: the ORC system was launched, which automates derivative trading strategies, which allows to reduce transaction costs and increase the speed of order execution. Integration with Turkish broker Deniz Yatrim, a subsidiary of DenizBank, has been completed, which has expanded its 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 was the leader in organizing market placements of ruble bonds according to Cbonds data. The bank entered a new segment of international DCM - debt management. In addition, the Bank returned to the Eurobond offering market, successfully placed the first OFZ issue with face indexation in line with inflation, closed the first “rights issue” deal and received the first international mandate in the ECM market.

Sberbank CIB Cyprus office was awarded two prestigious awards in 2015:

the Cyprus Investment Promotion Agency (CIPA) award for significant contribution to strengthening the image of Cyprus as an international business center;

the title of Investment Advisor of the Year in Cyprus in the 2015 M&A Awards, organized by the British edition of Finance Monthly.

Trade finance The trade finance business continues to develop successfully. In 2015, the volume of trade finance and documentary business transactions completed by Sberbank Group exceeded USD 29 billion, including over USD 18 billion for Sberbank PJSC.

The volume of transactions using domestic letters of credit in 2015 reached a record value of RUB 288 billion, 73% higher than in the previous year.

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 a source of financing for a trade transaction and provides an opportunity for the seller / contractor to receive payment before the end of the grace 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 new opportunities for trade finance. Sberbank signed a number of agreements with leading financial institutions in China with limits totaling over 12 billion yuan in corporate business. Cooperation with Chinese banks is carried out across the entire line of trade finance products of Sberbank. Sberbank's new product - post-financing of letters of credit in yuan - is actively gaining momentum. Sberbank has issued about 150 RMB-denominated letters of credit for clients from many regions of Russia.

Supporting the growing demand from Russian exporters of capital goods, Sberbank formed one of the largest portfolios of transactions using the insurance coverage of the Russian Agency for Export Credit and Investment Insurance (EXIAR), which exceeded 24 billion rubles as of January 1, 2016.

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 range of both long-term and short-term products with the support of export credit agencies in order to provide maximum support for Sberbank's clients' operations with foreign exporters. In June 2015, a Memorandum of Understanding was signed with the Italian export credit agency SACE.

Another important line of business that entered a phase of active development in 2015 was Commodity Trade Finance - financing the supply of raw materials, which Sberbank develops on the platform of a subsidiary bank in Switzerland. This product line is intended primarily for trading companies that trade in the international market for oil, coal, metals, grain, etc. The clients of the subsidiary bank of Sberbank in Switzerland are already the world's largest traders, as well as the leaders of 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 US dollars, which made it possible to increase the portfolio in this area of \u200b\u200bbusiness 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 by the leading international financial publications Global Finance and Trade & Forfaiting Review. Sberbank is also the market leader in settlements with 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 transforming in several directions: the degree of penetration of digital processes is increasing, the operational function of employees is decreasing and it is shifting to the field of consulting. The employee becomes not so much an operator as an assistant and partner who can advise the client on the right solution to a business issue on a professional level. This service model implies the importance of personal contact, which is why the work of the contact center changes, and remote client managers and product specialists appear.

Corporate business

A single sales management system for the entire vertical was introduced, covering the management functions of 900 heads of VSP11 of the Corporate Business unit, 180 regional managers, 80 heads of sales departments. The system unifies many processes at all levels and provides a single business rhythm for planning and goal setting throughout the sales network.

The model of working with new corporate clients, created on the basis of the clients' requests and wishes, 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 were the procedure of compulsory acquaintance with the head of the VSP and training clients on online services. Full compliance of the proposed model with the wishes of customers minimized the churn of new customers.

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 the allocation of specialists. The unification of employees on the basis of common goals allows replacing the competitive interaction of the Bank's specialists with a well-coordinated movement towards maximum satisfaction of the client's needs. Forming a team for a permanent group of clients, rather than a single transaction, provides clients with the highest level of service.

Sberbank creates a line of products for easy access for clients to the type of borrowed funds and instruments that suits them best. Online lending is launched, when a client can request and receive a loan without visiting the bank.

The services of electronic guarantee and electronic factoring were introduced.

For companies of medium, large and large businesses, a cash management tool is offered, which is essentially a treasurer's workplace. With the help of it, 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. A total of 882 billion rubles of credit resources were provided. The balance of outstanding loans of customers in this segment as of January 1, 2016 amounted to RUB 877 billion. According to the Bank of Russia, the share of Sberbank in the market for lending to regional government bodies of constituent entities of the Russian Federation and local government bodies as of January 1, 2016 amounted to 74.9%.

Small and Micro Business Sberbank serves 53% of active clients of small and micro business. This is 1.18 million customers. In 2015, the Bank expanded its range of services for clients with a new, unique on the market, complex package "My Team", which includes the services of a business assistant, lawyer, accountant, as well as unlimited settlement and cash services: account management, payments and cash acceptance for score. The bank is preparing to launch new non-financial services for clients.

Internal structural unit Corporate business

The bank is working to make the business of the clients themselves more efficient. In particular, the “Sberbank Analytics” service has been developed, using which the client can practically refuse from the financial director. In a user-friendly interface, the client will be able to analyze and monitor his activities: income and expenses, counterparties, cash gaps and much more.

The possibility of choosing the most convenient channel for a corporate client to receive consultations has been implemented, which is especially important at the time of 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 the nomination "Project of the Year for Organization of Technical Support for Corporate Clients" at the CNews Awards ceremony.

Using the Small and Micro-Business Client Development Model, based on mathematical models and allowing to significantly improve the quality of targeted offers to clients, the Bank calculated the potential of each point of sale, 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 an entrepreneur to correctly build interaction mechanisms within russian legislation... Sberbank customers have the opportunity to submit reports online to the Federal Tax Service and other regulatory authorities, pay taxes conveniently and on time. Work is underway to integrate Sberbank's internet banking with the taxpayer's office on the website of the Federal Tax Service.

In addition, customers can use the app to learn about various government business support programs.

The Bank continues to interact with JSC Federal Corporation for the Development of Small and Medium-Sized Businesses 12. The cooperation agreement concluded with the SME Corporation allows the Bank to attract guarantees in the form of quality category 1 security for a wide range of credit products and bank guarantees for small and medium-sized businesses. Guarantees can cover up to 70% of the principal loan debt and can be attracted by SMEs in any constituent entity of the Russian Federation. In 2015, the Bank issued more than 2.5 thousand loans and guarantees for more than RUB 21 billion under guarantees of the SME Corporation. The share of Sberbank 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 against guarantees of regional guarantee organizations for a total amount of RUB 11.2 billion. in 73 subjects of the Federation.

Sberbank supports clients who have lost their partner bank. For customers of credit institutions whose banking license has been revoked by the Bank of Russia, special conditions apply: free account opening, free organization of service 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 the Bank's clients through partners - agents, entered the project Next - SME Corporation, before the name change - JSC "NDCO" Credit Guarantee Agency "

Corporate business power. At the end of 2015, more than 42 thousand transactions were made, in the partner network of 200 partners, 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, connection of banks and insurance companies.

Within the framework of the “School of Business” project, 26 thousand entrepreneurs received access to educational programs for business, which are 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 speakers of the seminars were business trainers and government officials, successful businessmen. Today, about 80 thousand entrepreneurs regularly receive information about new educational events and advice from leading market experts in the framework of special information digests. One of the key focuses for 2016 is the organization, on the basis of the Business School, of the largest Russian platform for distance learning for small companies, partnership with leading business schools, incubators, and expert platforms.

Services to corporate clients The Bank strives to make interaction with a client convenient and simple, starting from the moment of opening a business. The bank provides an opportunity to register a business without a visit to the Federal Tax Service of Russia and to reserve an account for a 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 - a process requiring changes in legislation, when an account is not only reserved, but also opened without a client's visit to the Bank. In order to strengthen its competitive position, the Bank has expanded the functionality of the service: it is possible to reserve accounts 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 the main services mobile and remote. About 1.3 million customers are connected to the Sberbank Business Online service, more than 427 thousand users have downloaded the mobile version. By the end of 2015, 98% of payments were made through Sberbank Business Online or its mobile application.

Sberbank accounts for 31% of all payments to the Russian Federation. In 2015, the Bank launched a 24x7 settlement service for clients. By the end of the year, customers making settlements electronically within the Bank had the opportunity to settle with counterparties in the 17x7 mode, i.e. on the current day from 6.00 to 23.00, including weekends and holidays. The plans include mass connection of customers to this service and increasing the service availability time to 20x7.

At the beginning of 2015, the process of electronic document flow E-invocing between the Bank and clients was launched 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 on paperless transactions for corporate clients in Sberbank branches.

Since July 1, 2015, all regional banks offer self-collection services to companies. 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 used this opportunity for Corporate Business. As a result, the number of credit transactions in the bank branches with amounts up to 100 thousand rubles was reduced by 2 times. In 2016, interbranch settlements will be launched, which will allow the client to deposit money through self-service devices to a current account opened with Sberbank anywhere in Russia.

In 2015, the Bank introduced an automated process for paying insurance compensations to depositors - individual entrepreneurs of failed banks from the Fund of the Deposit Insurance Agency. Sberbank began to take part in competitions for the selection of banks authorized to make such payments, and from the beginning of 2016 it began paying insurance compensation on the accounts of individual entrepreneurs - clients of bankrupt banks.

In 2015, Sberbank introduced the Currency Control Module integrated into the Bank's settlement system. This made it possible to abandon the software of third-party organizations and optimize the processes of currency control, including reducing the processing time of currency control documents by 25%. Services for clients in remote banking systems have been improved. The opportunity has been implemented for clients to fill out currency control documents online, receive bank control sheets by clients, inform clients about the processing statuses of currency control documents, about possible violations of currency legislation, etc.

In order to improve management efficiency budgetary funds, an agreement was reached with the Federal Treasury Department to start using the Cash Management service. 52 regional departments of the Federal Treasury and more than 31 thousand accounts for servicing budget recipients were connected.

The regional banks have introduced a banking support service for investment contracts. The Bank exercises control over the spending of funds for its clients in accordance with the execution of investment projects.

The Bank provides its clients with a mobile application of the Sberbank Corporation AS.

Using this application, heads of groups of companies always have online access to information on all accounts of their group in the Bank. In this system, within the framework of the "Control and Acceptance" service, a service was launched to control electronic registers of payroll records under agreements on crediting funds to individual accounts.

The "Payment Calendar" service has been introduced, allowing customers to schedule forthcoming expenses and projected income, including through contracts with counterparties. The service allows you to create a payment calendar for future periods.

Service quality Sberbank continues to monitor the level of the Corporate Customer Satisfaction and Loyalty Index. In 2015, the indicator increased by 2 points to 67.

Significant growth occurred in the assessments of large and medium clients. The 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 services of settlement and cash services and their price parameters remains high due to the fact that customers optimize their expenses for banking services;

For corporate business, the Bank's flexibility when considering a loan application is of great importance:

individual approach to business valuation, no collateral, etc.

The indicator "Number of calls per 1000 active clients" at the end of 2015 amounted to 6.3 units. A certain increase in requests was recorded due to failures in the service of accepting cash at ATMs. Based on the analysis of problem areas, the Bank optimizes processes. Since the end of 2015, Sberbank has implemented the principle of “presumption of innocence of the client” when working with requests: upon receipt of a claim, the funds are reimbursed to the client, and then the claim is considered without the participation of the client. A pilot was conducted on the simplified consideration of companies' claims, in which the maximum amount of compensation was increased from 600 to 1500 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 consideration of credit transactions, an appropriate project is implemented, including the development of negative reviews and prompt resolution of problems of clients of all business segments.

Raising funds from corporate clients In 2015, in the context of the need to replace expensive government funding with client funds, the 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 7.4 trillion rubles.

The share of Sberbank in the total volume of funds of legal entities attracted by the banking system increased over the year from 21.9% to 25.0%. In the context of products, the share of settlement accounts increased during the year - from 29% to 34% of the total funds of corporate clients.

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In 2015, Sberbank launched a new service - placing funds on public terms available to users of remote service channels - Online products. Clients can place funds in a 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, a loyalty system operates, according to which customers who place funds in a deposit or on a minimum balance repeatedly receive interest income, which is additionally increased by 5-10 percentage points.

regarding "Online" rates. The functionality of the service is expanding. Today, you can remotely withdraw a deposit ahead of schedule, generate an order for its replenishment, prolong the agreement, receive SMS and e-mail notifications about events under the agreement.

Retail business

5. Retail business

2015 achievements in the retail business:

As of January 1, 2016, Sberbank attracted 10.2 trillion rubles. funds of individuals - historically the maximum amount. The inflow of funds from private clients for the year is also a record one: +2.2 trillion rubles.

Sberbank has increased its home loan portfolio to RUB 2.2 trillion. and took 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, notary and registration authorities.

Sberbank Online mobile applications for Android and iPhone were included in the lists of the best applications of the year in Google Play and App Store in Russia, becoming the only financial product in both ratings.

Sberbank was recognized as the winner of the Consumer Rights and Service Quality 2015 award as the most client-oriented bank in Russia.

A qualitative transformation began to take place 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 resulted in a quantum leap forward.

Through the efforts of consultants in the offices and following 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 with Sberbank cards for the first time exceeded 50%, in 2015 there was an explosive growth in P2P transfers - over the year, Sberbank's clients transferred 2.4 trillion rubles to each other.

A new model of office work - VSP 3.0 - was introduced. The offices now have consultants who solve clients' problems on the spot and successfully sell services. As a result, the level of operational errors is gradually decreasing and queues are shrinking.

Lending to private clients Retail loans account for over 23% of Sberbank's loan portfolio13.

The negative downward trend in debt, noted in the first quarter of the reporting year, was reversed in the summer. As a result, over the year, private clients received loans worth more than RUB 1.2 trillion. The portfolio of loans to individuals grew by 1.6% and reached 4,135 billion rubles. 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 the loan portfolio of Sberbank includes: loans to banks, legal entities and individuals.

Retail business

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Housing loans Housing loans remained a priority product of Sberbank. The mortgage loan portfolio grew by 13.4% over the year. The share of Sberbank in terms 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 housing and housing under construction in the primary market. Since March 2015, 109 thousand loans have been issued for 187 billion rubles. In addition, in the spring, a promotional campaign for “Purchase of finished housing” was held (discount 0.3 pp, initial payment from 15%, loan term up to 8 years) and the provision of loans for “Country estate” and “Construction of a residential building ”, The product“ Non-targeted loan secured by real estate ”was launched.

To help Sberbank borrowers with foreign currency mortgage loans, the Bank offered to individually set the rate of conversion of the loan to rubles and the ruble interest rate after changes in the terms of the foreign currency loan.

Throughout the year, there was a Campaign for young families: a discount of 0.5 p.p. to the base level of interest rates, no surcharges to the interest rate for the period before the registration of the mortgage. Over the year, 101 thousand young families were able to use such loans for a total of 153 billion rubles.

In July and August, by 1.0 p.p. and 0.5 pp, respectively, interest rates were reduced on all mortgage products, except for the "Military mortgage", the program "Mortgage with state support" and the product "Non-targeted loan secured by real estate". After the decline, the range of interest rates amounted to 11.4-14.5% per annum within the framework of basic mortgage products.

Retail business

Under the Military Mortgage in 2015, Sberbank issued 11 thousand loans worth 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"

there was a campaign "Flat rate" - an offer with a fixed interest rate for each category of customers, regardless of the size of the down payment, the term of the loan or the period of registration of the mortgage. The interest rate for clients receiving salaries on a Sberbank card was 13.45% per annum, for other categories of clients - 13.95%, taking into account the application of a special “Secured loan” condition. Decrease for certain groups of clients within the framework of the campaign amounted to 0.3-0.55 pp.

An important role in the development of mortgage is played by the development of partner channels - the vertical structure built in the Bank, which includes several areas of business:

sale of mortgage products of the Bank on the territory of partners-developers and real estate agencies; accompanying clients with approved mortgage solutions 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' properties through the specially developed B2B web-system “Partner Online”. This system allows to reduce the period of consideration of a loan application from 5 to 2 days. The share of applications filed by partners in the total number of mortgage applications of Sberbank for the year increased from 15% to 43%. More than 24 thousand people are 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 “Personal Account of the Borrower”, 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 was also launched in Moscow and Novosibirsk. It is now possible to send documents for registration at the mortgage lending center of Sberbank without visiting Rosreestr.

The development of home lending is also associated with new technical capabilities that the Bank has acquired and made it possible to simplify the lending process. Thus, within the framework of Federal Law 259-FZ of July 13, 2015, the Bank completed an order for 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 information resource of Rosreestr. Such interaction with government agencies greatly facilitates the lending process for the client.

Consumer lending Consumer loans, despite the portfolio reduction, still remain the leader in terms of interest income, outstripping other retail products. In 2015, against the backdrop of worsening retail risks, Sberbank kept maintaining the quality of its loan portfolio as a priority, focusing on attracting only high-quality borrowers. Over the year, the portfolio of consumer loans and credit cards decreased by 7.6%.

According to FGKU "Rosvoenipoteka"

Retail business Sberbank's share in the consumer lending market increased from 32.6% to 33.2%.

The bank resumed accepting applications for the provision of "Loans to individuals who run their own subsidiary plots." To stimulate demand, the Bank reduced interest rates three times on newly accepted applications for “Consumer loan without collateral”, “Consumer loan secured by individuals” and “Consumer loan for refinancing external loans” and twice for “Consumer loan for military personnel - NIS15 participants” and "Loans to individuals who run their own subsidiary plots." Promotions were held to coincide with the academic year and the New Year holidays.

In the first half of 2015, a technology was implemented that allows obtaining approval for loan applications in 15 minutes.

In October, in all regions, a new technology was introduced to provide a "Trust loan for borrowers of the Bank - individuals with valid loan agreements." The technology assumes an increase in the number of refinanced customer loans to five, automatic verification of overdue debts on existing loans and repayment of existing loans when a new product is issued.

Credit Cards Credit cards remain one of the important elements of the Bank's product line, successfully used for cross-selling to existing customers. During the year, the Bank increased the amount of outstanding credit cards from 410 to 441 billion rubles.

and strengthened its position as the leader of this market in Russia: the share of the credit card market increased from 29.9% to 33.4%. The number of valid credit cards reached 15.6 million.

In 2015, as part of its response to the market situation, Sberbank increased interest rates on debt on newly issued credit cards.

Increased commission for cash withdrawals from credit cards.

In April, the Bank introduced a temporary procedure to reduce credit limits on existing credit cards. The procedure affected customers who are 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 the Bank 3.2 billion rubles. reserves.

The bank issues credit cards without PIN envelopes: the client independently assigns a PIN to his card at the time of receipt. Since September, Sberbank customers can order a credit card with an approved limit of 50 thousand ATMs, where the Sirius platform is installed: the Classic card can be immediately obtained at the nearest branch, and the premium gold card - in a few days.

Car loans Sberbank transferred the partner car loan channel to its subsidiary bank Cetelem. In 2015, Cetelem Bank held the 1st place in terms of issue in the car lending segment. Sberbank Group retained the 1st place in terms of the size of its car loan portfolio. Despite a 35.7% reduction in the new car sales market in Russia in 2015, the volume of Cetelem Bank's loan portfolio remained at the level of the previous year and amounted to RUB 80 billion. Cetelem Bank continued cooperation with 23 car brands and entered into a number of agreements to strengthen it.

NIS - accumulative mortgage system Retail business Attraction of funds from private clients Attraction of funds from private clients and ensuring their safety remain the basis of the Bank's business. Sberbank attracts funds in time deposits, demand deposits, including bank cards, savings certificates, bills of exchange and accounts in precious metals.

The volume of funds attracted from individuals, including time deposits, demand accounts and bank cards, as well as funds in precious metals, increased by 2.2 trillion rubles in 2015. and by January 1, 2016 exceeded RUB 10.3 trillion. 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 was due to term ruble deposits. The volume of foreign currency deposits also increased in dollar terms.

Some of the deposits are open in remote channels.

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During 2015, with the general market trend towards a decrease in deposit rates and the existing dynamics of the key rate of the Bank of Russia, Sberbank reduced interest rates on deposits in rubles and foreign currency six times, including savings certificates of individuals.

Promotions on ruble-denominated products, maintaining a competitive level of interest rates on foreign currency deposits, as well as new deposits for wealthy clients allowed Sberbank to retain its market share in term deposits in rubles and significantly increase its share on foreign currency deposits.

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As of January 1, 2016, more than 170 thousand clients have signed up for the Sberbank Premier service package and over 22 thousand VIP clients use the Sberbank First service package. As part of these packages, customers receive premium debit cards for themselves and their loved ones, Priority Pass cards for access to business lounges at the world's largest airports, they have the opportunity to take advantage of preferential exchange rates for currencies and precious metals, as well as a discount on the payment for using safe boxes. Each package has a special line of deposits with an increased interest rate, as well as increased rates for 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 and a branch of the Pension Fund of the Russian Federation16 for the delivery of 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: obtaining a certificate free of charge on the types and amounts of pensions and other social payments by the Pension Fund of the Russian Federation, credited to an account with Sberbank. A 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 payments due to the Pension Fund and their amounts for the required period.

The share of pensioners receiving their pension 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.

1 Jan'16 1 Jan'15 The number of social pensioners receiving their pension through 24 789 919 23 291 132 Sberbank, people

The share of pensioners receiving pensions through Sberbank in the total 59.0 56.2 of the number of social pensioners in the Russian Federation,% (excluding the number of pensioners in Crimea) Sberbank has a separate work with the “Social” segment. The level of protection of the interests of pensioners regarding the safety of their deposits from the encroachments of third parties has been increased. A memo has been developed for employees of departments to protect the savings of pensioners and disabled people from fraudulent actions of third parties. Now, by performing simple actions, branch employees can stop fraudsters, prevent them from taking advantage of gullibility and trick customers into making debit transactions on accounts.

Simplified registration of receiving a pension to accounts in the Bank: an application for the delivery of a pension is automatically printed out when opening an account, which frees up 15 minutes of clients' time and eliminates time-consuming manual filling of details.

Work is underway so that pensioners can draw up documents for the delivery of pensions remotely through their personal account on the Unified Portal of Public Services.

Sources of non-interest income The main driver of non-interest income growth in the retail business in the past few years has been: operations with bank cards, acquiring, payments and transfers.

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The growth in the issue 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 has grown significantly over the year - by 7.2 pp. up to 54.7%. Such a noticeable breakthrough became possible due to the restructuring of the business line: at the level of regional banks, independent merchant acquiring divisions were created. During the year, Sberbank attracted 27 new federal key partners in various segments for acquiring services: clothing, auto goods, pharmacies, electrical goods, and services. The number of active retail and service outlets attracted for acquiring services increased by 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 in the country. Thanks to her, Sberbank has attracted 8 largest Russian car dealers for acquiring services.

The bank is actively developing internet acquiring and attracted 1,590 new partners in a year, a 5-fold increase. The turnover of bank cards on the Internet amounted to 85 billion rubles, an increase of 1.8 times. Payment for air tickets via phone with bank cards, replenishment of Ladoshka school meals cards has been implemented. The total number of organizations using Sberbank's Internet acquiring service exceeds 2.2 thousand.

The growth in the business of acquiring services 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, began accepting calls through the centralized support service 8-800 in 24/7 mode. “LightCabinet” operates, through which the speed of fulfilling partners' requests has increased many times, issues are resolved within the system without using mail and phone. Service standardization will strengthen the competitive position of Sberbank in the acquiring market and optimize technical support costs.

The development of cashless payments in public transport continues.

Launched at the Kotelniki metro station in Moscow, the pilot for accepting contactless bank cards at turnstiles has been expanded to four more stations, where cash desks and ticket machines are also equipped with acquiring equipment, and customers can pay for tickets with bank cards.

Debit Cards In 2015, Sberbank expanded the capabilities of its customers with debit cards. The issue of international bank cards with the function of the Troika retail business ticket has been implemented. In addition to the usual functionality debit card Sberbank, the new card serves as a fare payment instrument 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, on the Sberbank website, it has become possible to order a card using your own photos from Instagram. In the future, it is planned to expand the integration with social networks.

In 2015, more than 90 projects for the issue of cards with an individual design for salary clients were implemented, 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, salaries are paid to employees of enterprises using a technology that is convenient for customers: the enterprise provides a register for crediting funds to its employees through the Sberbank Business Online system, the Bank credits salaries to employees' cards online, and information on transfers instantly becomes available to the enterprise. The process is automated and the probability of operational errors is excluded.

A new technology of salary payments to employees of federal companies with branches in different cities and regions of the country has been successfully introduced. According to the unified register, which indicates the company's employees who have accounts in different branches of Sberbank, and the salaries 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, the 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 foreign exchange risk and customer complaints.

The processing of transactions of international payment systems MasterCard and VISA has been completely transferred to service through the National System of Payment Cards.

In April, Sberbank launched the Piggy Bank service as part of the Sberbank Online service.

This is an automatic transfer of the client's funds from a debit card to a deposit according to the 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 by individuals in favor of legal entities:

their average number increased by 17% to 13 million per day. The growth took place in all types of payments. The number of payments for utility 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 in the market of payments for housing and communal services with a share of 39%. Sberbank is the leader in the mobile payments market with a share of over 44%. This result has been achieved thanks to the active development of payments through Autopayment, Mobile Bank and Sberbank Online.

The number of subscriptions to the Autopayment service was 31.4 million. Auto payment for housing and communal services is available in more than 100 cities of Russia. In 2015, active promotion of non-cash payments at the checkout began: the share of payments accepted at the checkout using a card reached 7%. The share of payments accepted using bar-coding among receipts was 81%.

Retail business The total volume of transfers in 2015 exceeded RUB 9 trillion, which is 1.5 times more than in the previous year.

Insurance and Wealth Management 2015 was characterized for Sberbank by a number of significant results in terms of the business of welfare despite negative trends. Over the year, the client base grew from 7.5 to 13.2 million customers, the amount of assets managed by the Group increased from 221 to 450 billion rubles. In 2015, over 9.5 million wealth products for individuals (insurance, pension and investment products) were sold in the Bank's network, 137 thousand insurance policies were issued to corporate clients.

IC Sberbank Life Insurance has once again confirmed its leadership in the life insurance market with a 34% share. The total amount of insurance premiums amounted to 44 billion rubles. By the end of 2015, the total number of the company's 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 an international health insurance product. In addition, in the reporting year, the Company made 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 IC Sberbank Life Insurance in the list of systemically important insurance organizations.

In 2015, the Sberbank Non-State Pension Fund received pension savings of 2 million customers. NPF Sberbank 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. At the end of the year, savings of another 1.4 million people will be transferred to the NPF of Sberbank. In total, over 4 million Russians have become clients of NPF Sberbank.

IC Sberbank Insurance LLC is the fastest growing company in the Russian insurance market.

The company's premiums amounted to RUB 3.7 billion, of which 75% is the share of non-credit insurance; more than 30 products launched. More than 1.5 million people have become the Company's clients throughout Russia. In the first year of active development, the Company entered the TOP-10 insurers in Russia for insuring the property of individuals and in the TOP-15 for online sales in Russia. Thus, during the year the Company moved from the 119th place to the 34th place in terms of the total amount of fees, and also took the 13th place in the number of sold insurance policies.

Another growth leader was Sberbank Insurance Broker. It is important to note that the company became profitable in its first year of operation on the market and, following the results of 12 months, showed a steady increase in profits and the number of customers. At the end of 2015, the company's net profit amounted to RUB 108 million, 15% of customers are market customers attracted from outside.

Sberbank Asset Management JSC strengthened its leadership in the open-ended mutual fund market: its share exceeded 25% of the market. The company took 1st place in terms of revenue among all management companies, demonstrating high results of investment funds management: flagship equity funds (OPIF Active Management Fund: + 42%), bonds (OPIF Ilya Muromets: + 35%) and mixed investments (OPIF Balanced: + 38%) took first places among competitors at the end of the year.

At the end 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 that is unique in scale for the Russian insurance market was launched - 8 thousand branches of Sberbank became points of receipt of applications for settlement of insurance claims of the Bank's clients.

In 2015, Sberbank's depository was recognized as the leader in the Russian depository services market, ranked among the best depositories in emerging markets, and received the Category Outperformer, Market Outperformer and Global Outperformer awards.

The Sberbank depository serves 443 thousand securities accounts. The market value of client assets in custody in 2015 increased from 3.5 to 4.2 trillion rubles. In the reporting year, a depository service for individual investment securities accounts was launched. As of January 1, 2016, 49.2 thousand such accounts were opened.

The provision of specialized depository services for insurance companies has begun. Contracts were concluded with 25 insurance companies, the total value of controlled assets is 238 billion rubles.

Places of securities storage were optimized, which made it possible to avoid reserving RUB 21.2 billion. for investments of PJSC Sberbank in securities.

The International Bank-Issuer of Depositary Receipts carried out an annual online certification of the Depository as the custodian of Russian shares, under which ADR / GDR were issued and traded in Western markets.

The procedure for daily debiting of the depositary 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, has been implemented.

Rules and forms have been introduced for the identification of Custodian 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, in accordance with the Bank's strategy, the network of self-service devices decreased by 4 thousand devices and amounted to 52 thousand ATMs with a cash dispensing function, 34 thousand

without cash dispensing function 17. The network of self-service devices has expanded with new software that provides customers with a single space to complete transactions. In these devices (more than 53 thousand pieces), the client sees his transactions carried out in the Internet bank Sberbank Online, can print a confirmation check on them and repeat the payment using the template created earlier in the Internet bank.

The indicator of 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 web version of Sberbank Online 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 allowed us to provide customers with new functionality for payments and transfers. Significant changes were made to the design, which is built on the principles. In accordance with Federal Law No. 54-FZ "On the use of cash registers in cash settlements and (or) payments using payment cards", all payment terminals of Sberbank are considered ATMs.

Retail Business Material Design: 3D surfaces, realistic touch animations.

Focusing on the design concept from Google, Sberbank made an application that matches the graphic style familiar to Android users.

The mobile application of the Internet bank Sberbank Online for iPhone took 1st place in the rating of mobile banking applications for the iPhone in terms of ease of use published by UsabilityLab.

The bank has updated Sberbank Online applications for all platforms: iOS, Android and WinPhone. Now, to register in the application, you do not need an ATM or the web version of the Internet Bank - just enter the card number and confirm authorization using the code from the SMS. In the new version of the mobile application, you can quickly transfer money not only to a client of Sberbank, but also to Visa and MasterCard cards of other Russian banks. For instant translation it is enough to indicate the recipient's card number. In the cost 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 reached 10.5 million. The number of payments through mobile applications increased 3.7 times and averaged 24.3 million transactions per month. The number of transfers increased 4.7 times and averaged 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.

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 principle of operation, the main tool in which is the Intelligent Control System18. This automated system is based on the consolidation and analysis of big data from more than 10 different systems of the Bank. The IMS determines deviations at all management levels down to each employee of the office and then sets targeted tasks to managers to eliminate deviations. Thus, front-line managers are freed from independent analytical work to collect reports and search for deviations. At the moment, the ISU has 13.4 thousand active users, through it 1.3 million targeted tasks are submitted to the heads of the VSP every month. The perimeter of the IMS tasks includes deviations in 29 performance indicators, knowledge of banking products, converting customer traffic into banking products, eliminating fraud and adapting newcomers.

In 2015, the top priorities of the head were sales management, mentoring, and customer service. The model improved the operational quality in the offices, since cash operations, prevention of risk events, and complaints handling became the task of the dedicated deputy heads of the VSP. The model made it possible to free up 6,000 staff positions for VSP employees and 1,380 staff positions for managers, which reduced the Bank's expenses by 4.6 billion rubles. in year.

For the most efficient pre-claim settlement of customer issues, service managers have been allocated in 700 business offices19. About 85% of questions Next - ISU The largest offices, which account for more than 60% of all customer inquiries registered in the GSP.

Retail business is handled by service managers on the spot, most of them at the time of the client's request. The rest of the questions are forwarded to the claim 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.

The institute of consultants in VSP is successfully developing. For example, at the end of 2015, complex sales of remote services to customers began. The total volume of products sold through consultants in December increased by 21% compared to October.

Within the framework of the new model, there is a transition to the concept of "atmosphere" in the office - for employees and clients. It is an integral measure of the climate. For employees, this is the share of open vacancies due to which they have to work with increased workload, the share of overtime, the intensity of service, meeting performance standards and the number of errors that affect the level of income of employees. For clients, this is the number of reformatted offices, operational windows, the presence of "electronic queues", and a convenient working mode.

The atmosphere in the departments is measured, tasks are set to eliminate deviations.

In 2015, there was a decrease in the turnover of employees in the branches by 21%.

Employee engagement rates 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 focused on promoting commission products and raising funds from the public in active sales. In 2015, more than 154 million communications were sent with proposals for deposits and savings certificates. Additional growth 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 the mass personalization of active sales campaigns. Through campaigns for consumer loans, renewed in June on a massive scale, an additional 99 billion rubles were issued.

Active sales ensured additional issuance of 556 thousand credit cards. In June, for the first time, 500,000 Sberbank customers received a personal video message by email with a credit card offer.

The most important achievement was the launch in August of individual pricing in campaigns for active sales of 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 channel for delivering messages - the Viber messenger.

A welcome newsletter with the ability to go to the Sberbank promo page showed that 12 million customers are registered with Viber. The new communication method makes it possible 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 customer base, the number of products per customer increased over the year from 2.33 to 2.62. This suggests that customers are more likely to choose Sberbank as their "main" bank.

Service quality 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 evaluate the willingness to recommend Sberbank to friends and acquaintances. Sberbank's current NPS is 55%.

CSI22 - immediately after completing a product or solving a problem in a branch, calling the Sberbank contact center, receiving a response to the request, the Bank asks the client to assess satisfaction with the quality of service in these channels. Over the year, more than 960 thousand customer responses were received. All low marks have been worked out, the identified customer problems have been resolved.

Customer satisfaction surveys were carried out for 7 product processes.

Based on the opinions of customers, recommendations were prepared for changing 84 processes.

Working with customer requests remains one of the key priorities. More than 700 service managers work in offices and help clients in solving their problems “here and now”.

The “Customer Care Center” was created, which is designed to optimize the work with requests, to 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 solution.

Separately, work is underway with resonant appeals received by the Bank's management and through social networks - 150 such problems were resolved in a year.

The Pulse system is aimed at searching the Internet for reviews of the work of Sberbank branches23. More than 37 thousand responses were revealed, 1.5 thousand complaints relate to servicing in the Bank. All negative reviews were taken to work, customers were provided with answers.

A new service for employees, "My Client", has been launched in test mode. In the event that an employee becomes aware of a client problem from friends and family, he can transfer information to solve it to the right department.

As examples, when negative customer experience helped the Bank to understand the problem and find its process solution, there is a new technology for working with bank cards Smart Box. VSPs are equipped with special containers for storing cards. An active client is a client who has used a banking product NPS (Net Promoter score) in the previous 3 months - the index of a client's readiness to recommend Sberbank to his friends and acquaintances. It is 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. The key diagnostic question: how satisfied were you in general with your visit to the bank today?

The search is carried out in four social networks: Foursquare, Instagram, VKontakte and Flamp. The retail business is creating an electronic file for placing cards in containers. The technology reduces the time of issuing a card to a client by 1.5 times and labor costs for working with cards by 2 times.

Another example is a project that will allow real-time verification of notarial powers of attorney when a client contacts the Bank's offices. The implementation of the project will start from 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 performed using paperless technology. In 2015, 90 million documents were signed electronically, 7,245 trees were preserved. A paperless front office eliminates operational errors, document reconciliation at the close of a business day, and reduces paper consumption in offices by 15% and the need for storage space by 20%.

Sberbank continues to work on cutting queues. In 2015, in 6,481 offices, the waiting time for customers in a queue is measured in an automated mode using a queue management system. At the end of the year, 95% of customers who used the Bank's services waited in line no more than the time specified 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's response remains at a high level - 31 seconds at the end of 2015, a year earlier - 35 seconds. The service satisfaction index in 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 dial free of charge to the Sberbank Contact Center at 900 in the home network.

The new service “Client Code” has become available to the Bank's customers. Using this code in the automated system, you can find out the balance, the last five transactions, get the Sberbank Online identifier and block the card.

A new, sixth, contact center platform was opened in Samara. Currently, 200 jobs have been organized, target placement - 730 jobs.

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 pp. to 96%, employee churn decreased by 9 p.p. up to 36%.

In March 2015, as part of the Call Center World Forum business forum,

The Crystal Headset Award Ceremony is the central event in the world of call centers. Representatives of the ERKTs of Sberbank won in three nominations:

Para-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 most significant change was in the portfolio of securities available for sale.

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 purpose of managing the short-term liquidity ratio, effective from 1 January 2016;

positive foreign exchange revaluation of previously purchased Eurobonds;

acquisition of ECP / CD of foreign banks with a rating above A with maturity less than 6 months for the purpose of placing excess foreign exchange liquidity;

an increase in investments 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 general management system of the Group and is aimed at ensuring sustainable development within the framework of the Development Strategy approved by the Bank's Supervisory Board. The Group's risk management system25 complies with the requirements of the Bank of Russia and the 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 customers, country risk, credit risks of financial institutions, market risks of operations 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.

Risks are identified and their materiality assessed 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 committees of the Bank. Risk management at the 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 form employees' behavior in which they openly discuss and react to existing and potential risks, and to form an internal mental attitude of intolerance to ignoring, hushing up risks and risky behavior of others. The risk culture complements the 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 the 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 operations in financial markets is the risk associated with unwillingness / impossibility of full and timely fulfillment of obligations under a transaction by 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, geographic regions; the same applies to investments in securities.

Residual risk is the risk that risk mitigation measures may not give the expected effect due to implementation in relation to ensuring legal risk, liquidity risk.

The risk management system is implemented at the level of the Group as a whole; Since Sberbank 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 required to ensure the sustainable development of the Group, determined by the Group's development strategy and macroeconomic parameters.

The Group's objectives in credit risk management:

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 competitive advantages of the Group through a more accurate assessment of accepted risks and implementation of risk management measures, including reducing the level of realized credit risks;

maintain stability when introducing new, including more complex, products.

The Group uses the following credit risk management methods:

risk prevention before the operation;

planning the level of risk through assessing the level of expected losses;

limiting credit risk by setting limits;

formation of reserves to cover possible losses on loans granted;

structuring transactions;

management of the collateral for transactions;

application of the system of powers when making decisions;

monitoring and controlling the level of risk.

Credit risk is assessed for the Bank as a whole and for individual asset portfolios, as well as for individual counterparties, countries, regions and industries. The assessment is based on statistical models for quantitative assessment of credit risk.

In 2015, Sberbank became the first bank in the Russian Federation to apply to the Bank of Russia to apply internal rating approaches 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-training of scoring models and automatic adaptation to new situations in real time.

The assessment of individual risks of counterparties for transactions is carried out:

for corporate clients, banks, small businesses, countries, constituent entities of the Russian Federation, municipalities, insurance and leasing companies: based on the system of credit ratings, as well as by building models of forecast cash flows or other important indicators;

Management of risks

for individuals and microbusiness 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 the default of the counterparty are carried out using a system of limits, which limits transactions with credit risk. The amount 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 in 2015, industry strategies were developed and approved.

Based on the principle of prudence and prudence to cover the losses expected from the realization of credit risk on assets exposed to credit risk, the Bank and the Group form provisions for possible losses on loans and other possible losses. Provisions are formed in accordance with the requirements of the Bank of Russia, banking regulators, international financial reporting standards and internal regulations of the Bank and the Group as a whole, providing for regular valuation of credit risk (expected in the event of credit risk of losses) taking into account the internal credit ratings of counterparties.

In order to ensure the appropriate adequacy of the procedures for assessing the level of credit risks and determining the amount of provisions for possible losses on loans, 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 allocated for which the provision is formed without making a professional judgment about the level of credit risk for each loan separately.

The Group controls the concentration of major 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 member of the Group, limits are set on borrowers, the portfolio is analyzed by segment and product.

Collateral is the main instrument for reducing credit risk.

The need to accept collateral and the amount of collateral accepted depends on the risk of the borrower / transaction and is fixed in the terms of 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 in 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 probability of receiving cash in the amount of the estimated collateral value when foreclosure on the subject of the collateral or its sale. The quality of collateral is indirectly characterized by the list and materiality of the risks associated with the collateral and is determined by a number of factors: liquidity, reliability of valuation, risk of impairment, exposure to risks of loss and damage, risks arising from legal reasons, and others.

The assessment of the collateral value is made on the basis of an 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 surety of solvent legal entities as property security requires the same risk assessment of the guarantor as of the borrower. The Bank conducts regular monitoring of collateralized assets in order to ensure control over Risk Management by quantitative, qualitative and cost parameters of collateral items, their legal affiliation, storage and maintenance conditions. The frequency of monitoring is determined by: the requirements of regulations of the Bank of Russia, the terms of the loan product, the type of collateral.

The existing systems of limits and authorities allow to optimize the credit process and properly manage credit risk. Each territorial division and member bank of the Group is assigned a risk profile that determines the decision-making authority depending on the risk category of the application. In turn, the risk category of the application depends on the borrower's risk, the aggregate limit for the borrower / group of related borrowers, and the transaction risk.

In 2016, it is planned to optimize the decision-making process for corporate clients and CIB clients, including the construction of systems that allow for certain categories of clients to make decisions in 1 day in real time.

With regard to work with bad debts, in 2015, behavioral scoring was introduced into the process of remote collection of overdue debt on loans to individuals. In 2016, it is planned to introduce a unified centralized retail collection system, which provides for the whole range of instruments for resolving problem debts - remote, contact, outsourcing.

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Restructured loans As of January 1, 2016, the volume of restructured loans to legal entities is 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 - making changes to the initial material terms of the loan agreement concluded with the debtor in a more favorable direction for him, not provided for by the initial material 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 - 0.7% (January 1, 2015: RUB 72.5 billion and 0.3%, respectively). Typical restructuring options imply an increase in the term of use of a loan, a change in the repayment procedure. Risk management of debt on a loan, refusal to charge penalties in whole or in part, and a change in the currency of the loan.

Concentration level of major credit risks The Bank pays close attention to controlling the level of concentration of major credit risks. In accordance with internal regulations, the Bank has implemented a procedure for daily monitoring of major credit risks and forecasting compliance with the requirements set by the Bank of Russia for the standards26 N6 (maximum exposure per borrower or a group of related borrowers) and N7 (maximum exposure to large credit risks). For this purpose, support and monitoring of the List of large and related borrowers of the Bank is carried out.

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 largest borrowers of the Bank are representatives of various sectors of the economy, thus, the credit risk is sufficiently diversified.

Detailed information on 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 for 2015, drawn up in accordance with the requirements of the Bank of Russia and posted on the Sberbank website at 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 customers and counterparties, while complying with the regulatory requirements of the Bank of Russia in the area of \u200b\u200bliquidity risk management both in normal business conditions and in crisis situations. The key document on the basis of which the assessment, control and management of liquidity risk takes place is Sberbank's Liquidity Risk Management Policy. When managing the liquidity risk, the Bank identifies the risks of regulatory, physical and structural liquidity.

Regulatory liquidity risk - violation of regulatory restrictions on the values \u200b\u200bof mandatory liquidity ratios established by the Bank of Russia (N2, N3, N4 and NKL). In order to manage the regulatory liquidity risk, 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 \u200b\u200bof mandatory ratios and liquidity indicators, which guarantees compliance with the restrictions of the Bank of Russia for both reporting and intra-month dates, taking into account possible fluctuations in individual balance sheet items.

Instruction of the Bank of Russia "On obligatory bank ratios" (as revised on October 25, 2013) No. 139-I dated December 3, 2012 The indicator is calculated as follows: outstanding debt of the 20 largest borrowing companies (groups of companies) refers to the balance of the loan portfolio of legal entities and individuals ; both the numerator and the denominator include urgent, overdue and assignment agreements; the debt of 20 companies includes the debt of subsidiaries of Sberbank, while the debt of banks is not taken into account.

Risk management Physical liquidity risk - the Bank's inability to fulfill its obligations to the counterparty in any currency due to a physical lack of funds:

impossibility of making a payment, issuing a loan, etc. The tools for managing the risk of physical liquidity in the short term are a model for forecasting the dynamics of the main balance sheet items in the context of major currencies, control of available liquidity reserves. To cover a possible liquidity deficit in excess of the available stock of funds, the Bank has access to instruments to attract 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 swaps and swap with precious metals, as well as attraction from the Bank of Russia secured by non-marketable assets and guarantees of credit institutions.

Structural liquidity risk (concentration risk) - 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 liabilities base on one / several clients or funding sources 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 United States, the volatility of the ruble exchange rate, and other factors). Nevertheless, thanks to a flexible interest rate policy and effective management of the active and passive base, in 2015 the Bank managed to reduce the volume of borrowing from the Bank of Russia and the federal budget by 3.0 trillion rubles. up to 0.8 trillion rubles. mainly by attracting funds from customers, as well as by reducing the amount of cash in the framework of optimizing cash management. As of January 1, 2016, the Bank maintains the volume of reserves both in rubles and foreign currencies at a level sufficient to respond in the event of a deteriorating liquidity situation.

In 2015, the Bank of Russia announced the establishment of the Basel III short-term liquidity ratio (NKL, N26) as a prudential norm effective January 1, 2016. The minimum allowable value of the standard for 2016 is 70% with a subsequent 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 the liquidity ratio throughout 2016.

As of January 1, 2016, Sberbank is in reserve in compliance with the limit values \u200b\u200bof 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 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 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 categorized as “not identified” in the amount actually overdue.

up to vostr. and from 1 to 6 months from 1 year over not set RUB. less than 1 month 6 months up to 1 year up to 3 years 3 years new 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 decrease in the volume of funds raised by the Bank of Russia on direct repo transactions and within the framework of Bank of Russia Regulation No. 312-P. The urgency of such operations generally does not exceed 6 months. This decrease was offset by attracting customer funds for various periods and selling cash. It is also worth noting an increase in the liquidity gap over the horizon of more than 3 years, mainly due to a reduction in the residual maturity of loans.

Country risk Transfer risk is the risk of losses due to the inability of counterparties of a certain country (except for sovereign counterparties) to meet their obligations in a currency other than the counterparty's country, for reasons other than standard risks (for reasons that depend on the government of the country, and not on the counterparty ).

Risk of national economies - the risk of losses due to the impossibility or unwillingness of the sovereign counterparties of a certain country and the inability of the other counterparties of this country to meet their obligations in the national currency for reasons other than standard risks (for reasons that depend on the government of the country, not on the counterparty).

To limit and manage the risks accepted by the Group in relation to individual countries, the bank has developed a system of country risk limits. These limits limit the aggregate concentration for transactions with counterparties in a given country, 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 materialization.

Management of risks

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The countries of the "group of developed countries" include: Australia, the Austrian Republic, 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, Portuguese 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 transactions in financial markets

Interest rate risk on a portfolio of debt securities of a trading book is the risk arising from an unfavorable change in the levels of market rates.

Stock risk of a trading book is a risk arising from an unfavorable change in quotations of equity securities.

Management of risks

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The increase in the value of market risk as of January 1, 2016 compared to January 1, 2015 was caused by an increase in volatility caused by a shift in the historical window used to construct possible scenarios of changes in the prices of instruments in the portfolio. According to the methodology for assessing the value of market risk, when constructing such scenarios, a historical window is used corresponding to a two-year period preceding the calculation date. In addition, the increase in market risk is also explained by the expansion of the range of financial instruments covered by the VaR calculation.

The absence of stock risk is due to the liquidation of positions on shares in the trading portfolio on the balance sheet of Sberbank in accordance with the decision to approve the strategy for managing the stock portfolio.

Calculated based on the Bank's total position in financial instruments, including the position in the Banking Book, as well as on the Bank's total open foreign exchange position.

Risk management Interest and foreign exchange risks in the banking book Interest and foreign exchange risks in the banking book are the risks of the bank incurring 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 objectives of managing these types of risk are:

minimization of potential losses due to the realization of interest rate and currency risks;

compliance with regulatory requirements;

optimization of the ratio of risk and return.

Interest rate risk of the banking book Definition and sources of risk. The Bank takes on interest rate risk related to the effects of fluctuations in the prevailing levels of market interest rates on its cash flows.

The interest rate risk of the banking book includes:

interest rate risk arising from the maturity mismatch (revision of interest rates) of assets and liabilities sensitive to changes in interest rates, with a parallel shift, change in the slope and shape of the yield curve;

basis risk arising from the mismatch in the degree of change in interest rates on assets and liabilities that are sensitive to changes in interest rates with a similar maturity (term of interest rate revision);

the risk of early repayment (revision of interest rates) of assets and liabilities sensitive to changes in interest rates.

Interest rate risk management in 2015. In 2015, the Group reduced the interest rate risk in rubles as a result of the implementation of the anti-crisis package adopted by the Bank's management. As part of the Bank's interest rate risk management, starting from 2016, a target position on interest rate risk in rubles has been set, to achieve which monitoring indicators have been set for the volume and maturity structure of products, the implementation of which is regularly discussed at the Asset and Liability Management Committee.

Assessment of interest rate risk. To assess interest rate risk, a standardized shock is used in accordance with the recommendations of the Basel Committee.

Forecasting possible changes in interest rates is performed separately for the ruble position and aggregated for the currency position. The shock of interest rates is calculated as 1% and 99% of the quantile of the distribution of changes in the average annual interest rate, obtained using the method of historical simulations based on data for at least the last 5 years. As the base rate for assessing the shock of interest rates in rubles, the indicative rate for ruble interest rate swaps for a period of 2 years (RUB IRS 2Y) is used, as well as LIBOR 3M for the currency position.

The impact of the rise and fall in interest rates on the Group's profit before tax over a 1-year horizon as at 1 January 2016 as compared to 1 January 201530 is shown below:

The data on the interest rate risk of the Banking Book in rubles for PJSC Sberbank, which constitutes the majority of the interest rate risk of the Group's Banking Book in rubles. Data in foreign currencies is 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 as compared to January 1, 2015 was mainly caused by:

a decrease in the volume of short-term borrowings from the Bank of Russia;

growth in the portfolio of individuals' funds;

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 as compared 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 Denizbank Group.

The change in the interest rate risk of the banking book in other foreign currencies as of January 1, 2016 in relation to January 1, 2015 is mainly caused by:

increased volatility in US dollar interest rates;

the termination of attraction of state funding by Sberbank in US dollars;

reducing the maturity of the portfolio of loans to legal entities.

Currency risk in the banking book The Bank is exposed to currency risk due to open foreign exchange positions (OCP). The main sources of OCP of the banking book are: lending and attraction operations in foreign currencies and income received in foreign currencies.

Foreign exchange risk is realized due to unfavorable changes in exchange rates.

The Bank daily consolidates the total open exchange rate of the bank and manages the open foreign exchange position of the banking book in order to reduce foreign exchange risk. The Bank uses exchange transactions with SPOT settlements, forward contracts, and futures contracts for the US dollar traded on the MICEX as the main tools for managing currency risks.

In 2014-2015, the Bank closed foreign currency positions in the banking book, as a result of which the Bank did not incur losses due to a significant depreciation of the Russian ruble against foreign currencies in terms of banking book positions.

Management of risks

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Operational risk Operational risk is the risk of the Bank's losses as a result of errors in the organization of processes, errors of employees or abuse of third parties, failures in the functioning information systemsas well as due to external events.

As part of operational risk management, the Bank has introduced 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 prepared on a daily, monthly and quarterly basis.

Data on risk assessments and incurred losses allow identifying areas of risk concentration for further development of a set of measures to reduce the level of the Bank's operational risk. The implemented measures to reduce risks are of a systemic nature and are aimed at improving the existing processes and technologies for performing transactions (the risk of employee errors in transactions is reduced, a number of risks associated with the issuance of credit cards, cards with overdraft, 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 on the part of structural divisions and on the part of operational risk divisions, as well as the 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 incidents has decreased by almost three times.

The amount of damage from major incidents of operational risk is allocated to the Bank's divisions on a regular basis. Damage data are taken into account as part of key performance indicators for members of the Management Board, supervisors of functional units of the central office and chairmen of regional banks. In addition, the Bank maintains a rating of internal structural divisions according to the level of operational risks in order to minimize them.

For more information on risk management procedures, as well as on other key types of risk, such as the risk of losses due to changes in the value of property, legal risk, compliance risk, regulatory risk, tax risk, strategic risk and model risk, see the explanatory information. included in the annual accounting (financial) statements of PJSC Sberbank for 2015, drawn up in accordance with the requirements of the Bank of Russia and posted on the Sberbank website at www.sberbank.com.

The table shows, in aggregate, for the banking and trading book 3, the highest ORP values \u200b\u200bcalculated in accordance with the instruction of the Bank of Russia 124-I.

Staff

8. Personnel General information about personnel In 2015, the actual number of Sberbank employees decreased by 4,492 employees to 271,231 employees. The reduction was mainly due to the reduction of the Operating, Retail and Corporate business units. A significant part of employees (46%) work directly with clients.

Personnel involvement Sberbank pays great attention to personnel involvement. For this, a large-scale employee survey is conducted every year. The feedback obtained from the results is used to determine priorities in work 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 survey geography to 346 cities. The engagement index showed significant growth for the second year in a row - by 6.7 p.p.

to the level of 75.6 p.p. The factors that have the greatest impact on the involvement of Sberbank employees are: the quality of change management in the Bank, including the quality of communications; top management - the level of its competence, openness in communication with employees, creation of conditions for effective interaction;

the ability to efficiently perform work - the speed of decision making, the simplicity of the approval process, the ability to influence the decisions made, professionalism and compliance with the values \u200b\u200bof employees.

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 process of change management will be improved, assessments by values \u200b\u200bin all elements of the HR cycle will be used when making personnel decisions. Work will be carried out on the development of a mentoring style of leadership in their daily work, improving the discipline of timely reporting of problems and mistakes.

Selection and adaptation In 2015, as part of the selection procedures in 2015, 54,554 new specialists and managers were hired by Sberbank. According to the new standards of Sberbank, newly hired employees are provided with a quick and high-quality induction to the position, assistance is provided in a new environment.

In 2015, more than 13,700 students underwent practical training and internship at Sberbank and the Bank's subsidiaries. The program for the recruitment and development of university graduates is implemented in the CIB block.

Within the framework of cooperation with educational institutions, more than 2,000 lectures from the Bank's employees were held, more than 100 different case competitions were held.

HR Cycle The Bank has a single annual cycle for setting goals, evaluating performance and potential, planning a career, developing and promoting employees - the HR cycle.

At the beginning of the year, based on the strategic goals of the Bank, the goals of the top management for the quarters and the year are formed. The targets are then cascaded down the command levels and within the territory.

Personnel Evaluation of performance in relation to employees is carried out every quarter, in December the results of the work for the year are summed up. Feedback is given based on the assessment results. In 2015, in addition to performance assessment, an assessment of compliance with the Bank's values \u200b\u200bwas also introduced. In 2015, 100% of employees passed the performance assessment.

With regard to the heads of the Bank, an assessment tool is used - personnel commissions, at which the potential and success of the head are collectively considered.

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. In 2015, personnel commissions passed 20 thousand.

leaders - 63% of their total. 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 recognized as ineffective. In 2015, the coverage of such plans increased 15 times compared to 2014.

The Bank has a personnel reserve for key positions. For the remaining positions, a succession policy is implemented. The talent pool consists of high-potential executives who are ready to take key positions in the Sberbank system over the next two years.

At the end of the year, the employee receives 360-degree feedback from the manager, colleagues, subordinates, and internal clients.

In 2015, a mentoring system was fully implemented throughout Sberbank, which allows an employee to develop on the experience of others. During the year, 12 thousand managers were trained in mentoring tools, and most of them successfully apply mentoring tools in practice.

The Corporate University of Sberbank, which was recognized as the best in the rating of Leaders in Corporate Education according to the RBC magazine, started operating at full capacity.

During the year, more than 25 thousand managers studied at the university. More than 200 executives taught on CU programs within the framework of the Leaders Teach Leaders system.

In 2015, a new model of general banking professional competencies was developed. Programs have been created according to which employees will be trained in 2016.

In 2015, 550 64732 specialists were trained. 254 centralized training programs for specialists have been developed. At the end of the year, the level of satisfaction with training programs was 9.4 points out of 10.

Corporate benefits and privileges The Bank provides all employees who have passed the probationary period, voluntary medical insurance and insurance against accidents and serious illnesses.

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