06 April 2004 12:48
SBERBANK SHARE ON PRIVATE DEPOSIT MARKET TO DROP
MOSCOW. April 6 (Interfax) - Sberbank's share of Russia's private deposit market will continue to go down,
the bank's chairman, Andrei Kazmin, predicts.
Sberbank's share of the personal deposit market dropped 3-4 percentage points in 2003. At the beginning of 2004,
Sberbank held 70.5% of the country's ruble deposits and 44.7% of the foreign currency deposits.
Sberbank's share of the personal financing market rose to 48% in
2003 from 40%. Personal loans were up to 123.7 billion rubles at the
The downward trend will continue for the next year or two, he said, adding that the launch of a deposit insurance
system will not trigger any serious changes.
"We welcome this process, because the retail business is very high- spending, so we are working on changing our
deposit base," Kazmin said.
In 2003, the bank continued to concentrate on raising long-term deposits, which make now make up 55% of overall
deposits.
start of 2004, compared with 53 billion rubles a year earlier. Private client loans accounted for 14.3% of the loan
portfolio, up from 8.9%. Past-due debts dropped to 0.24% from 0.3%.
Sberbank has 17 territorial banks, 1,028 divisions and 19,143 branches.
Sberbank is not reducing its number of branches, but is optimizing its branch network in accordance with client
needs. Sberbank has 54% of its branches in rural areas where the bank meets virtually no competition, while big cities
inhabited by over a million people hold just 8% of Sberbank branches, Kazmin said.
[Interfax] |
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