Sberbank Europe AG posted a net profit of EUR 3.4 mio

Sberbank Europe Group reports positive result in 2014

Contact

Mag. Linda Michalech
Corporate Communications Manager

Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662
linda.michalech@sberbank.at

Sberbank Europe Group reports positive result in 2014

Sberbank Europe AG published its annual consolidated financial statements for 2014 and posted a net profit of EUR 3.4 mio

Sberbank Europe Group posted a net profit of EUR 3.4 mio for the year ended 31 December 2014.

Net loans to customers grew by 21% to EUR 9,826 mio as compared to EUR 8,115 mio in 2013. Loan portfolio growth is a result of higher volume of loans granted by the local banks and due to the ramp up of corporate business in Austria. 

Client deposits grew by 1% to EUR 6,817 mio compared to EUR 6,725 mio in 2013.

Sberbank Europe’s net interest margin increased by 0.05% as compared to 2013 and stood at 2.58%.

The year 2014 was characterized by a challenging political and economic environment due to the crisis in Ukraine. Sberbank Europe AG and its subsidiaries in the EU countries have not been subject to any EU sanctions and accordingly are not restricted in their access to the EU capital markets. In March 2014, some of the most renowned international banks have provided a debut syndicated term loan facility for Sberbank Europe AG for EUR 350 million equivalent, to serve new business, especially Large Corporates.

Another challenge in 2014 was the foreign exchange debtor scheme in Hungary, resulting in a one-time loss of EUR 21 mio. With the exemption of Hungary and the Ukraine all subsidiary banks of Sberbank Europe AG achieved positive results.

Axel Hummel, CEO of Sberbank Europe, said: “We are more than happy that we achieved a positive result in 2014 despite the challenging environment. We offered new products and services to our customers, bundled our corporate business expertise in the Vienna headquarters and we successfully launched an online bank in Germany.”

In 2014, both assets and loan market shares grew above market. The main contributing banks were from Slovenia and Croatia.

Since November 2014 Sberbank Europe is under supervision of the European Central Bank (ECB), being classified as a significant banking group in Europe. 

Future direction of Sberbank Europe: Digital Banking

“We are striving to build a modern, self-funded and profitable banking group in Europe. This means that we willbecome digital, optimize our branch network, switch to remote channels and provide unique offers for our customers. We want to gather a well-balanced deposit base and ensure profitability of all our projects and activities”, explains Axel Hummel.

Leveraging the Austrian banking license, Sberbank Direct was launched as a branch of Sberbank Europe AG in Germany in summer 2014. The German subsidiary contributes to the continuing funding diversification of Sberbank Europe, offering deposit products at attractive conditions: “Sberbank Direct was established as a pure online bank and offers online consumer deposits exclusively for private individuals via direct sales channels. In the near future we will introduce additional products such as current accounts and payment transfers”; says Axel Hummel.

In the upcoming years the branch network in Central and Eastern Europe will be complemented by innovative digital banking solutions. “We will significantly enhance our digital banking offering and we will invest in going digital. The first wave of digital banking will comprise Germany, Austria and Czech Republic”, explains Axel Hummel.

Key highlights of Sberbank Europe's consolidated 2014 results (IFRS):

  • Net Profit: amounted to EUR 3.4 mio
  • Net Loan Growth: increased 21%, to EUR 9,826 mio
  • NPL ratio: decreased to 12.1%  compared with 14.6% in 2013
  • Net Interest Margin: stood at 2.58%
  • Cost to Income Ratio: improved to 80.1% from 84.7% in 2013
  • NPL coverage ratio: decreased to 39.8% (40.3% in 2013)
  • Deposit Growth: Increased to EUR 6,817 mio compared with EUR 6,725 in 2013
  • Client deposits share of total funding was 57%
  • Regulatory Capital: in 2014 Tier 1 ratio increased to 10.7% (2013: 9.5%) and CAR was 16.8% (2013: 13.1%)

About Sberbank Europe Group
Sberbank Europe Group (Sberbank Europe AG), headquartered in Vienna, Austria, is a banking group that is 100% owned by Sberbank Russia. Sberbank Europe Group is present in 9 markets in Central and Eastern Europe (CEE): Austria, Bosnia and Herzegovina, Croatia, Czech Republic, Hungary, Slovakia, Slovenia, Serbia and the Ukraine. In total the bank operates 294 branches and has 5,158 employees (as at 31.12.2014). Website: www.sberbank.at

About Sberbank Group
Sberbank Russia is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank’s authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries. The bank holds a general banking license No. 1481 issued by the Bank of Russia. Website: www.sberbank.ru

Sberbank was awarded “Bank of the Year 2012” by The Banker magazine and “Best Bank in CEE and Russia 2013” by the Euromoney magazine.

Kontakt öffnen