Sberbank of Russia and Troika Dialog Announce the Closure of their Deal to Create the Largest Universal Banking Institution in Russia
EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank of Russia and Troika Dialog Announce the Closure of their
Deal to Create the Largest Universal Banking Institution in Russia
23.01.2012 / 07:45
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Sberbank of Russia and Troika Dialog Announce the Closure of their Deal to
Create the Largest Universal Banking Institution in Russia
January 23, 2012, Moscow - Sberbank of Russia and Troika Dialog announce
the closure of the deal to merge the two companies. This landmark event
signals the creation of the largest universal banking institution in
Russia.
The integration of Troika Dialog will enable Sberbank to reach a new level
of client service through high-quality financial consultation and a broad
choice of investment strategies, underpinned by a full range of modern
financial instruments - from the Bank's traditional credit products to
complex investment banking and global markets products. An undisputed
regional market leader will emerge as a result of the merger of these two
complementary businesses.
As part of the process of integrating Troika Dialog into the Sberbank
structure, a new division is being created: the Corporate Investment Bank
(CIB) which will provide services to the largest Russian and foreign
corporations and financial institutes. CIB will become part of the business
unit entitled 'Corporate Business' managed by Andrey Donskih, Deputy
Chairman of the Management Board of Sberbank of Russia. Alexander Bazarov,
Member of the Management Board, Vice President of Sberbank of Russia and
Director of the Corporate Clients Department, and Ruben Vardanian, CEO of
Troika Dialog have been appointed Co-heads of CIB.
The second area of business being created as a result of integration is
Wealth Management. Wealth Management will include the business areas which
focus on selling investment products to private clients, including Asset
Management and Private Banking. Ruben Vardanian, Troika Dialog CEO, will
head Wealth Management; Bella Zlatkis, Deputy Chairman of the Management
Board of Sberbank of Russia, will oversee this business unit. The unit's
development plans include the creation of the largest private bank in
Russia, leveraging western experience of developing product lines and
client service technology.
According to preliminary data for 2011, the divisions of Sberbank and
Troika Dialog together generated 22 billion roubles of income from
operations made on the financial markets, out of which 8 billion roubles
came from securities sales and trading operations, and 6 billion - from
conversion operations and precious metal operations. In 2011 investment
banking services generated preliminary income of 3.4 billion roubles. The
Bank plans to significantly increase income generated by these segments
after the teams are unified, which will happen in the immediate future.
Herman Gref, CEO and Chairman of the Management Board of Sberbank of
Russia, commented: 'We are taking the scope of our business to the next
level. The merger will enable us to modernise the Russian financial
industry and increase the quality of services we offer to our corporate and
private clients. We plan to consolidate and expand our leading positions in
investment banking in both Russia and the CIS in the next two to three
years and intend to become one of the top 15 global players in terms of
debt securities, currency, and commodities operations in the next five
years. We have ambitious goals: in 2014 we expect to double income from
investment banking activity. At the moment we are already working on over
70 investment banking deals.'
Ruben Vardanian, Chairman of the Board of Directors and CEO of Troika
Dialog, remarked: 'We have been granted all the necessary regulatory
approvals. Our company is now becoming a part of Sberbank and it is a
pleasure for me to open this new chapter in the history of Troika Dialog.
We are turning into a unique partner for investors from Russia and the CIS
who require access to the global financial markets, and also for
international clients who can take advantage of the opportunities that are
opening up for them in the region. In the immediate future we will continue
to strengthen our team and have made plans to develop existing products and
launch new ones. At the moment we view global market operations, structured
products and investment banking services as promising areas of business.'
Information for editors:
Sberbank of Russia is the largest bank in Russia, accounting for about 27%
of the aggregate Russian banking assets and employing about 240,000 people.
Sberbank's founder and major shareholder is the Bank of Russia holding over
60% of voting shares. The bank's other shareholders comprise more than
245,000 legal entities and individuals. The bank has the largest
countrywide branch network with 17 regional head offices and more than
19,000 outlets as well as subsidiary banks in Kazakhstan, Ukraine and
Belarus, a branch in India, and representative offices in Germany and
China.
The bank holds the general banking licence No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru
For further information please contact:
Public Relations Department, tel.: +7 (495) 957 5721, e-mail:
media@sberbank.ru
Troika Dialog: Founded in 1991, Troika Dialog is one of the leading
investment companies in the CIS. The company's business consists of
securities sales and trading, investment banking, private wealth and asset
management, direct and venture investments, retail distribution and
alternative investment. Troika Dialog's operations are located in 21 cities
across Russia plus offices in London, New York, Kyiv, Almaty and Nicosia.
www.troika.ru
For further information please contact:
Troika Dialog Press Service, tel.: +7 (495) 258 0519, e-mail:
pressa@troika.ru
End of Corporate News
---------------------------------------------------------------------
23.01.2012 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
153589 23.01.2012
EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank of Russia and Troika Dialog Announce the Closure of their
Deal to Create the Largest Universal Banking Institution in Russia
23.01.2012 / 07:45
---------------------------------------------------------------------
Sberbank of Russia and Troika Dialog Announce the Closure of their Deal to
Create the Largest Universal Banking Institution in Russia
January 23, 2012, Moscow - Sberbank of Russia and Troika Dialog announce
the closure of the deal to merge the two companies. This landmark event
signals the creation of the largest universal banking institution in
Russia.
The integration of Troika Dialog will enable Sberbank to reach a new level
of client service through high-quality financial consultation and a broad
choice of investment strategies, underpinned by a full range of modern
financial instruments - from the Bank's traditional credit products to
complex investment banking and global markets products. An undisputed
regional market leader will emerge as a result of the merger of these two
complementary businesses.
As part of the process of integrating Troika Dialog into the Sberbank
structure, a new division is being created: the Corporate Investment Bank
(CIB) which will provide services to the largest Russian and foreign
corporations and financial institutes. CIB will become part of the business
unit entitled 'Corporate Business' managed by Andrey Donskih, Deputy
Chairman of the Management Board of Sberbank of Russia. Alexander Bazarov,
Member of the Management Board, Vice President of Sberbank of Russia and
Director of the Corporate Clients Department, and Ruben Vardanian, CEO of
Troika Dialog have been appointed Co-heads of CIB.
The second area of business being created as a result of integration is
Wealth Management. Wealth Management will include the business areas which
focus on selling investment products to private clients, including Asset
Management and Private Banking. Ruben Vardanian, Troika Dialog CEO, will
head Wealth Management; Bella Zlatkis, Deputy Chairman of the Management
Board of Sberbank of Russia, will oversee this business unit. The unit's
development plans include the creation of the largest private bank in
Russia, leveraging western experience of developing product lines and
client service technology.
According to preliminary data for 2011, the divisions of Sberbank and
Troika Dialog together generated 22 billion roubles of income from
operations made on the financial markets, out of which 8 billion roubles
came from securities sales and trading operations, and 6 billion - from
conversion operations and precious metal operations. In 2011 investment
banking services generated preliminary income of 3.4 billion roubles. The
Bank plans to significantly increase income generated by these segments
after the teams are unified, which will happen in the immediate future.
Herman Gref, CEO and Chairman of the Management Board of Sberbank of
Russia, commented: 'We are taking the scope of our business to the next
level. The merger will enable us to modernise the Russian financial
industry and increase the quality of services we offer to our corporate and
private clients. We plan to consolidate and expand our leading positions in
investment banking in both Russia and the CIS in the next two to three
years and intend to become one of the top 15 global players in terms of
debt securities, currency, and commodities operations in the next five
years. We have ambitious goals: in 2014 we expect to double income from
investment banking activity. At the moment we are already working on over
70 investment banking deals.'
Ruben Vardanian, Chairman of the Board of Directors and CEO of Troika
Dialog, remarked: 'We have been granted all the necessary regulatory
approvals. Our company is now becoming a part of Sberbank and it is a
pleasure for me to open this new chapter in the history of Troika Dialog.
We are turning into a unique partner for investors from Russia and the CIS
who require access to the global financial markets, and also for
international clients who can take advantage of the opportunities that are
opening up for them in the region. In the immediate future we will continue
to strengthen our team and have made plans to develop existing products and
launch new ones. At the moment we view global market operations, structured
products and investment banking services as promising areas of business.'
Information for editors:
Sberbank of Russia is the largest bank in Russia, accounting for about 27%
of the aggregate Russian banking assets and employing about 240,000 people.
Sberbank's founder and major shareholder is the Bank of Russia holding over
60% of voting shares. The bank's other shareholders comprise more than
245,000 legal entities and individuals. The bank has the largest
countrywide branch network with 17 regional head offices and more than
19,000 outlets as well as subsidiary banks in Kazakhstan, Ukraine and
Belarus, a branch in India, and representative offices in Germany and
China.
The bank holds the general banking licence No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru
For further information please contact:
Public Relations Department, tel.: +7 (495) 957 5721, e-mail:
media@sberbank.ru
Troika Dialog: Founded in 1991, Troika Dialog is one of the leading
investment companies in the CIS. The company's business consists of
securities sales and trading, investment banking, private wealth and asset
management, direct and venture investments, retail distribution and
alternative investment. Troika Dialog's operations are located in 21 cities
across Russia plus offices in London, New York, Kyiv, Almaty and Nicosia.
www.troika.ru
For further information please contact:
Troika Dialog Press Service, tel.: +7 (495) 258 0519, e-mail:
pressa@troika.ru
End of Corporate News
---------------------------------------------------------------------
23.01.2012 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
153589 23.01.2012