OREANDA-NEWS. January 4, 2012. Deputy Chairman of the Management Board of Sberbank of Russia Sergey Gorkov held a briefing on International Block of Sberbank of Russia: 2011 Preliminary Results.

In 2011 Sberbank of Russia subsidiaries based in CIS countries (Belarus, Kazakhstan, and Ukraine) have strengthened their foothold. Further organic growth in CIS markets is among Sberbank's top-priority objectives in the international market. "Notably, 2011 was successful for Sberbank in CIS countries. We became an undisputed leader in terms of aggregate performance figures among Russian banks that operate in Belarus, Kazakhstan and Ukraine. In addition, Sberbank owns a large network in CIS countries that includes over 400 branches. This is quite a visible network, even in the scale of our country", Sergey Gorkov emphasized during the briefing.

In 2011 Sberbank's Belarus-based subsidiary was renamed BPS-Sberbank OJSC. Despite crisis phenomena in the Belarus economy this year, BPS-Sberbank OJSC maintained its positions and still holds third place among Belarusian banks. In 2010, the Belarusian subsidiary will generate a profit of 46 million US dollars. In 2011 BPS-Sberbank OJSC expects its profits to be comparable in the USD equivalent to last year's figures, which speaks of its successful development.

Sberbank also demonstrates sustainable development in Kazakhstan: better asset figures and an upgrade to 7th place in Kazakhstan, net profits increased and a jump to 4th place. 2010 will be closed by Sberbank’s subsidiary in Kazakhstan with a profit (17.6 million dollars). By the end of 2011 the bank plans to exceed its net profit targets more than twice.

2010 closed for Sberbank of Russia in Ukraine with losses as a result of the creation of provisions for potentially bad loans advanced before 2009. But since the start of 2011 its operations have been profitable with net profits for 10 months reaching USD 25.8 million. In addition, in 2011 the bank opened 40 new branches to expand the entire network to 120 branches.

Sergey Gorkov pointed out at the briefing that there are immediate plans to create an international corporate platform that requires implementation of new cross-border products and services in order to meet the interests of Sberbank's corporate customers in CIS countries as fully as possible.

Sergey Gorkov reminded the journalists present that on September 8, 2011 Sberbank signed a binding agreement to buy 100% stocks of VBI and expects to close the transaction early next year. The purchase price is 585 million euros. This acquisition will give Sberbank access to 8 markets of Central and Eastern Europe and a banking license in Austria.

In addition, the speaker confirmed that Sberbank is also interested in Polish and Turkish markets but is now only looking into proposals and does not negotiate the purchase of any assets in these countries.