On April 6, 2004 Russian Information Agency RIA Novosty hosted a press-conference of Andrei I. Kazmin, Chairman of the Board and CEO of Sberbank on the Sberbank's results in 2003.
Andrei Kazmin underlined that 2003 was the year of rapid business growth for Sberbank. The Bank succeeded in reaching all of its target figures and the positive trend continues. Book profit for 2003 made 38.8 billion rubles. (against 36.0 billion rubles as on 1.01.2003), net profit was 33.7 billion rubles (against 31.2 billion rubles as on 1.01.2003). Net assets reached 1,500 billion rubles. Capital increased to 148.4 billion rubles (from 118.5 billion rubles as on 1.01.2003), loan portfolio grew to 863.2 billion rubles (from 596.3 billion rubles as on 1.01.2003), deposits of individuals with the Bank totalled 957.9 billion rubles (693.0 billion rubles as on 1.01.2003).
Rate of growth was even higher in the area of household and small business lending which is given top priority in the credit policy of the Bank.
Thus, household loans outstanding increased to 123,7 billion rubles as on 1.01.2004 from 53 billion rubles as on 1.01.2003, 2.3 times year on year growth. The share of household loans outstanding in the aggregate portfolio of the Bank grew from 8.9% (as on 1.01.2003) to 14.3% (as on 1.01.2004). The total number of private borrowers grew from 2.5 million to 3.5 million. Loans overdue decreased from 0.3% (as on 1.01.2003) to 0.24% (as on 1.01.2004) of the aggregate portfolio.
In 2003 Sberbank branches disbursed 348.9 billion rubles and 69.1 million US dollars (1.6 and 2.1 times growth on year 2002 respectively) in loans to small business, including both small companies and individual entrepreneurs operating without setting up a body corporate. Loans outstanding to this category of customers made 88.6 billion rubles as on 1.01.2004, a 37.5 billion rubles (or 73%) growth on the previous year.
High performance figures boosted market value of Sberbank's stock raising its market capitalisation above 5.1 billion US dollars (nearly 8 billion US dollars at the close of March, 2004), almost 1.4 times growth. Effectiveness of Sberbank's operations has been testified by its ROA above 3%, and ROE of 25%, which is considerably higher than respective averages for the banks of Russia and Eastern Europe and the banks in the countries with developed economies. Sberbank's achievements have been recognised by the international financial markets: rating agencies Fitch and Moody’s assigned Sberbank investment rating at the sovereign ceiling.
Currently 219 000 employees work in Sberbank's branch network comprising 17 regional head offices, 1,028 branches and 19,143 sub-branches and business units of Sberbank. For the last two years the number of offices has grown from 20 064 in 2001 to 20 188 in 2003.

Sberbank’s Press Service