Address of the CEO and Chairman of the Management Board  Herman Gref

What does corporate social responsibility mean for Sberbank? Most adults in Russia have used our services at least once in their life. We account for over one third of all loans provided to Russian companies and individuals. Sberbank is the largest payment system in Russia, processing millions of domestic and international payments every day. On a national scale, Sberbank is one of Russia’s largest employers. We have over 250,000 private shareholders.

In other words, Sberbank is a company deeply integrated into the Russian economy and Russian society. It is the scale of this integration that determines the extent of our responsibility to our customers, shareholders, employees and the country as a whole. Everything we do affects them either directly or indirectly. And vice versa, changes in the Russian economy or social environment become powerful drivers for a change within the Bank.

The Report you are reading now is our first attempt to present, within a single document, the full extent and variety of the diverse reciprocal links between our activities and the interests of those we engage with in the process. In the modern world, a company’s success is determined not only by the results it achieves but also by how it achieves them. And we want everyone to know how the Bank achieves its goals and how shareholders’ interests are taken into account.

Our starting point for understanding our position and role in the world around us is the Bank’s mission. It states that people, with their dreams and aspirations and their problems and circumstances, are at the centre of our business. This is why we are talking about how we are Fulfilling Our Mission in our first Corporate Social Responsibility Report.

In 2010, we all faced many challenges in the form of the economic recession and the consequences of the summer droughts and forest fires. In these challenging circumstances, the Bank looked for the best ways to help its customers get through the difficult period while maintaining both their businesses and their social status. Some examples of significant steps taken by the Bank to that end include loan restructuring, cutting interest rates and abolishing commission fees on retail loans.

In the past year, we worked a lot to improve the quality and accessibility of our services across various customer categories. We focused primarily on cutting queues and customer waiting times at Bank branches, reducing loan request processing time, optimising customer service processes and developing remote service channels. We will continue these efforts in 2011.

Another important initiative for us is our new system of medical benefits, which we began to implement in 2010. It is a unique programme, both in terms of scale and the extent of coverage offered. The programme includes injury and serious illness insurance, as well as free comprehensive health check-ups and discounted rates on voluntary medical insurance. In 2011, we plan to expand it to cover all of the Bank’s divisions. We also plan to launch a Corporate Pension Programme.

Our social role is not limited to running a business or creating jobs. By supporting various medical, educational, cultural and sporting projects and through charitable aid and the promotion of a healthy lifestyle, we have the opportunity to help improve the quality of life for the Russian population and to support those who for various reasons are unable to cope alone in difficult circumstances.

Supporting education is a significant area of focus to which we pay special attention. We recognise that knowledge is the driving force behind the development of contemporary society. This is why we work closely with leading Russian universities and also develop our own corporate learning system. We play a part in the development of the Skolkovo School of Management, as well as supporting professional programmes and competitions run by leading universities in Moscow and the regions. Thanks to significant efforts in 2010, we were able to open our very own Corporate University at the beginning of 2011.

We take pride in supporting the Give Life Foundation and the Golden Mask Theatre Festival. We are also proud of our involvement in supporting orphanages and children’s homes. In 2010, more than 3,000 Sberbank employees took part in over one hundred charity events in different regions of Russia. Every regional bank has a number of child care facilities (including children’s homes, orphanages and rehabilitation centres for children from abusive families) to which they regularly provide aid.

The four main chapters of this Report describe our relations with our customers, employees, shareholders and investors, as well as society and the government. In each chapter, we try to describe our strategy with regards to the respective group and present the most significant results achieved in 2010.

In 2011, Sberbank will celebrate its 170th anniversary. Today the Bank bears little resemblance to the institution it was just a few decades ago: our ownership structure, range of services and technological capabilities have all changed dramatically. But what has remained unchanged is the Bank’s social significance and its involvement in social development. And we hope that by fulfilling our Mission and building one of the world’s leading financial institutions, we will contribute to the development and prosperity of all stakeholders that engage with us.

Herman Gref


CEO and Chairman of the Management Board


My Annual Report