Fitch rates Sberbank Europe AG BBB- with a stable outlook

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Mag. Linda Michalech
Corporate Communications Manager

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

Fitch rates Sberbank Europe AG BBB- with a stable outlook

Fitch assigned Sberbank Europe AG a Long-term Issuer Default Rating of BBB- with a stable outlook. This is the first-time that Sberbank Europe has been rated.

Sergey Gorkov, Deputy Chairman of the Executive Board of Sberbank, commented: “The rating allows us to expand our business even further and to work closely with key partners in the international arena.” 

“We are delighted that Fitch has endorsed our business strategy and growth agenda. We have made significant progress over the last year and have ambitions to be one of the leading banks in Central and Eastern Europe in the coming years”, said Mark Arnold, CEO of Sberbank Europe AG. 

Fitch classifies Sberbank Europe as a ‘strategically important’ subsidiary of Sberbank of Russia (SBRF; BBB/Stable/bbb). This is based on Sberbank of Russia’s 100% ownership and the parent’s focus on developing its international business as well as the track record of providing capital and funding since the acquisition of Sberbank Europe.  


Sberbank Europe AG
Sberbank Europe AG manages a banking network of nine universal banks in eight Central and Eastern European countries: Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, and the Ukraine. In total the bank operates 280 branches and has 4,500 employees (as at 31.12.2012). Website: www.sberbank.at

Sberbank Group
Sberbank of 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 110 million individual customers and 1 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with more than 18,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries. 
The Bank holds the general banking license No.1481 issued by the Bank of Russia. The official website is www.sberbank.ru.
 

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