Key Developments: Sberbank Rossii OAO (SBRCY.PK)

SBRCY.PK on OTC Markets Group

4:00pm EDT
Price Change (% chg)

$-0.09 (-1.09%)
Prev Close
Day's High
Day's Low
Avg. Vol
52-wk High
52-wk Low

Search Stocks

Latest Key Developments (Source: Significant Developments)

Moody's confirms Sberbank Rossii OAO ratings
Wednesday, 2 Jul 2014 01:53pm EDT 

Sberbank Rossii OAO:Moody's Investors Service has confirmed the supported long-term debt, issuer and deposit ratings of six Russian financial institutions, including Sberbank Rossii OAO, following the rating agency's confirmation of Russia's Baa1 government bond rating with a negative outlook on June 27.The confirmation of the sovereign rating means that the level of systemic support that Moody's incorporates into the six financial institutions' affected ratings remains unchanged, thus prompting the confirmation of their supported long-term ratings.This rating action concludes the review of these ratings initiated by Moody's in April.Sberbank's long-term debt and deposit ratings of Baa1 were confirmed with a negative outlook, maintaining a two-notch uplift from its standalone baseline credit assessment (BCA) of baa3.The uplift reflects the fact that as the biggest majority government-owned franchise in Russia, the likelihood of systemic support from the Russian government remains high in case of need.The negative outlook on the bank's long-term ratings reflects the similar outlook on the sovereign rating.  Full Article

Sberbank Rossii OAO, Rostec sign cooperation agreement-Interfax
Tuesday, 24 Jun 2014 09:30am EDT 

Sberbank Rossii OAO:Sberbank and Rostec, the former state Russian technologies corporation, have signed a cooperation agreement, according to a joint press release of the two organizations-Interfax.One of the main focuses of Sberbank's and Rostec's cooperation will be the bank's development and application of unified approaches in servicing the corporation and its affiliated enterprises.In addition, Sberbank will take part in the formation of Rostec's unified corporate treasury, including carrying out a project to implement an automated system for the treasury.Sberbank will work with enterprises that are part of Rostec on technology for a single channel of electronic payment documents.  Full Article

Sberbank Rossii OAO places Eurobonds-Interfax
Tuesday, 24 Jun 2014 12:44am EDT 

Sberbank Rossii OAO:Sberbank has placed 1 billion euro in Eurobonds at 3.35 percent pa, 260 basis points against mid-market swaps, Alexander Morozov, the bank's deputy head, told Interfax-Interfax.He added that the book was considerably over-subscribed.Bids were received from around 180 investors from all continents, he said.  Full Article

Sberbank Rossii OAO signs strategic partnership agreements with Attijariwafa Bank SA and Banque Centrale Populaire SA
Monday, 9 Jun 2014 08:00pm EDT 

Sberbank Rossii OAO:Enters into cooperation agreements with Morocco’s banks, Attijariwafa Bank Group and Banque Centrale Populaire SA.The agreements envisage cooperation between Sberbank and these two Moroccan banks, including interaction with Sberbank CIB, the corporate and investment banking business of the Sberbank Group.The documents establish priority areas of cooperation in banking, namely: trade finance, the documentary business, correspondent banking, syndications, custody services and financial markets.  Full Article

Sberbank Rossii OAO maintains FY 2014 net profit guidance-DJ
Friday, 6 Jun 2014 02:19am EDT 

Sberbank Rossii OAO:Sberbank is sticking to its 2014 net profit target despite continuing turmoil in Ukraine, the bank's deputy chairman said-DJ.At the beginning of this year Sberbank forecast that 2014 net profit would be slightly above the 362 billion Russian rubles ($10.4 billion) the bank reported for 2013.Alexander Morozov told reporters that Sberbank isn't changing its profit forecast but declined to give an exact figure, adding that in the current situation any target could be taken the wrong way.Sberbank said that net profit under Russian accounting standards slipped 1 percent to 155.3 billion rubles in the first five months, while total provision charges jumped to 119 billion rubles from 43 billion rubles seen a year ago, reflecting the bank's readiness for loan defaults.FY 2014 net income of 364,327 million rubles - Thomson Reuters I/B/E/S Estimates.  Full Article

Sberbank Rossii OAO to cut number of back office employees by 10,000 over 5 years-Interfax
Friday, 6 Jun 2014 01:33am EDT 

Sberbank Rossii OAO:Russia's Sberbank is planning to cut the number of back office employees to 8,000 from 18,000 over the next five years, Sberbank CEO German Gref said at the bank's annual meeting-Interfax.Over the last five years, Sberbank has cut the number of back office employees to 18,000 from 59,000, while the volume of service operations has nearly tripled.  Full Article

Sberbank Rossii OAO announces admission to trading at Saint Petersburg Exchange
Thursday, 5 Jun 2014 01:42am EDT 

Sberbank Rossii OAO:Says that its ordinary and preferred shares have been admitted to trading at Saint-Petersburg Stock Exchange.Date of inclusion of shares into the list of securities admitted to trading (without the inclusion in the quotation lists) is June 6.  Full Article

Sberbank Rossii OAO maintains FY 2014 net profit forecast-Interfax
Thursday, 29 May 2014 09:15am EDT 

Sberbank Rossii OAO:Sberbank has not changed its forecast for 2014 net profit, the deputy chairman of the bank's management board, Alexander Morozov, said during a conference call-Interfax.Sberbank CEO German Gref said in Jan. that 2014 net profit would be "somewhat higher than in 2013," though he did not say how much exactly.Sberbank had net profit to International Financial Reporting Standards (IFRS) of 362 billion Russian rubles in 2013, which was 4 percent more than in 2012.FY 2014 net income of 376,648 million rubles - Thomson Reuters I/B/E/S Estimates.  Full Article

Sberbank Rossii OAO to enter German market in July-Interfax
Saturday, 24 May 2014 03:52am EDT 

Sberbank Rossii OAO:Sberbank starts to operate in the German market on July 12, the press service of the bank quoted Sergei Gorkov, a deputy CEO, as saying at the St Petersburg International Economic Forum-Interfax.Gorkov said Sberbank had obtained a banking license from the German regulator.He said Sberbank would offer direct banking products, specifically on-line deposits, in Germany.In Germany, Sberbank plans to develop as a digital bank, not as a traditional bank.Sberbank entered the East European banking market in 2012 when it bought the VBI Group, now known as Sberbank Europe, which operates in nine countries: Austria, Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Bosnia and Herzegovina (including Republika Srpska), Serbia and Ukraine.  Full Article

Sberbank Rossii OAO and Bank of China (ELUOSI) sign memorandum of understanding
Wednesday, 21 May 2014 08:00pm EDT 

Sberbank Rossii OAO:Says that during the XVIII St. Petersburg International Economic Forum, Sberbank of Russia and Bank of China (ELUOSI), which is a fully-owned subsidiary of Bank of China Ltd., signed a memorandum of understanding.Memorandum provides for cooperation between Bank of China (ELUOSI) and Sberbank including Sberbank CIB, particularly concerning strengthening of cooperation on trade finance and settlements in national currencies of Russia and China, and correspondent relations.  Full Article

Search Stocks