Andrei I. Kazmin, Chairman of the Board and CEO of Sberbank has been elected Vice- President of the World Savings Bank Institute and Member of the Board of Administration for another three year term at the 10th General Assembly of WSBI in Madrid on May 21st, 2003. 
  Dr. Berndt (Germany) has been reconfirmed as President of the WSBI. The other elected Vice–Presidents are Mr. Olavarrieta Arcos (Spain), Ms. De Montes (Columbia), Mr. Jiang (China), Mr. Saina (Kenya) and Ms. Moreau (France).
  The World Savings Bank Institute is a non-governmental organisation established in 1924 which unites savings and retail banks and their associations from all over the world with 6,400 bn euro in assets, 4,600 bn in deposits, 200,000 branches and 2.4 million employees.
  WSBI strategic objectives include international promotion of savings bank interests as important components of the national banking systems which are significantly contributing to social and economic development of their countries. 
  In their operations WSBI members rely on their ramified branch networks, ensuring availability of banking services to the people throughout the country. Savings banks provide stable national and regional economic growth by mobilising and reinvesting savings of all layers of population. 
  The election of a representative from the Russian banking community to the managing position in this reputable international organisation, uniting over 100 members from 91 countries, evidences strong trust towards Sberbank on behalf of international financial community.

Sberbank Press Service