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    DGAP-News  537  0 Kommentare Sberbank: Sberbank and BNP Paribas Personal Finance have agreed to expand the activity of their joint venture after its good performances in the Russian car financing market


    Sberbank / Key word(s): Miscellaneous/Miscellaneous

    18.07.2013 13:31

    Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a
    company of EQS Group AG.
    The issuer / publisher is solely responsible for the content of this announcement.

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    July 18, 2013, Moscow - Sberbank has strengthened its strategic positions
    in the car loan market by transferring its car loan business, generated
    through partnerships with car manufacturers and car dealers, to Cetelem
    Bank.

    Cetelem Bank is a joint point-of-sale finance bank of Sberbank and BNP
    Paribas Personal Finance, the consumer lending division of the BNP Paribas
    Group. The bank is operating in the Russian consumer and car loan market
    and specializes in point-of-sale lending - retail stores and auto dealers.

    The transfer is a part of a large-scale internal reorganization within
    Sberbank Group. Sberbank will continue issuing car personal loans at its
    branches and the car loan partnership programs with car manufacturers and
    car dealers will be transferred from Sberbank to Cetelem Bank. This
    specialization is part of the bank's retail strategy and will allow
    Sberbank Group to upgrade its presence in the car loan market, an important
    market for Sberbank.

    Cetelem Bank is the best vehicle for Sberbank's ambitious growth plans. It
    specializes in point-of-sale lending and successfully combines experience
    in the Russian market with the innovative technologies of BNP Paribas
    Personal Finance. For its first ten months of operation, the joint bank
    showed solid results: it more than doubled its POS outstanding and
    multiplied almost by 4 its personal car loan outstanding. In accordance
    with the terms of the transaction, Sberbank will increase its stake in
    Cetelem Bank in 2013 from 70% up to 74% leaving the governance unchanged.
    After three years, Sberbank has an option to increase its stake in the
    Cetelem Bank up to 80%.

    The switch from Sberbank to Cetelem Bank will be done by the end of this
    year and executed smoothly in order to respect the partners' and clients'
    interests. The car loan partnership programs transferred to the Cetelem
    Bank platform will increase Sberbank Group's share in the car loan market.
    All partners and clients will receive guaranteed quality services from
    Cetelem Bank.

    Denis Bugrov, Member of the Board, Senior Vice President, Sberbank: 'The
    current market share of Sberbank Group in the car loan market is about
    13.9%. We plan that with the transfers of the car loan partnership programs
    to Cetelem Bank, Sberbank will increase this figure considerably. The
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    DGAP-News Sberbank: Sberbank and BNP Paribas Personal Finance have agreed to expand the activity of their joint venture after its good performances in the Russian car financing market Sberbank / Key word(s): Miscellaneous/Miscellaneous 18.07.2013 13:31 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer / publisher is solely responsible for the content of this …