OREANDA-NEWS. Under the St. Petersburg International Economic Forum Sberbank has signed the memorandum of understanding with Croatia’s Agrokor Group, the largest privately owned retailer and food producer in Southeast Europe.

The memorandum was signed by Deputy Chairman of the Executive board of Sberbank Svetlana Sagaydak and Deputy President of Agrokor Group Ante Todoric.

The companies have agreed to further extend cooperation in the area of retail services in Croatia and wider region. The parties will also jointly evaluate possibilities on cooperation and promotion of Sberbank's solution for retail points of sales - Sberbank terminal (Business Tab).

‘Sberbank has provided the company with credits on more than EUR 1 bn, the bank supports joint projects of the company, including investment banking products’ – said Deputy Chairman of the Executive Board Svetlana Sagaydak – ‘The revenue of the company grew from EUR 4.6 bn to EUR 6.5 bn in 2015. In 2016, Sberbank plans to increase the issue of co-branded cards to 95 thousand units’.

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.