OREANDA-NEWS. April 02, 2013. Global Finance Magazine has named Sberbank as the ‘Best Bank in Russia’ in its annual awards. These accolades, which will appear in the May issue of Global Finance recognise the World’s best banks in developed and emerging markets.

The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers, and analysts throughout the world. Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. Subjective criteria were also considered and included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

"This year's winning banks have one thing in common, a focus on responding to the needs of their customers," says Global Finance's publisher, Joseph D. Giarraputo.

Herman Gref, CEO and Chairman of the Executive Board of Sberbank, commenting on the award, said: “We are delighted that Global Finance has named us as the Best Bank in Russia. The award highlights both our strength in the market and the progress that we made in 2012. Despite continued global volatility and market uncertainty, we have continued to grow our business both in Russia and internationally.”