Subsidiary Bank Sberbank of Russia presents updated development strategy

/KASE, November 18, 2016/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote On November 18, 2016 Subsidiary Bank Sberbank of Russia in Kazakhstan presented its updated Strategy, which is part of the Strategy of international presence of the Sberbank Group. The bank is focused on the development of digital channels and trans-border operations, improvement of the asset quality and increasing of the non-loan revenues. "Over the past 10 years Sberbank has become one of the major banks of the country, – pointed out Svetlana Sagaidak, the deputy Chairman of Management Board of Sberbank OJSC. – The time has come for new goals and tasks. Our target in Kazakhstan for 2018 with regard to assets – KZT1.6 trln, profit – KZT27.6 bn. We aspire that our subsidiary in Kazakhstan would become an optimal bank for SME, bank number one for servicing the trans-border business with Russia, India and China, as well as an entrance point to markets of key countries of Central Asia and China". Over the past 10 years of operating on Kazakhstan's financial market Sberbank has become a major foreign bank of the country. The bank's assets have increased 55 times and make up around KZT1.5 trln. In terms of assets volume, the bank has gone up to the 17th place from the 4th with a market share of 6 %. The bank's equity exceeds KZT147 bn. unquote [2016-11-18]