In 2013, Sberbank increased its share in the Russian consumer loan market by 0.8 pp to 33.5%. Sberbank’s retail loan book increased by 31.8% to RUB 3.3 trillion. During the year, private customers were provided with loans of more than RUB 1.8 trillion.
Mortgages remain one of the most important elements of the bank’s product line. In 2013, the Sberbank mortgage portfolio grew at a record pace: monthly record-breaking mortgage loans were achieved from April to December. For example, in December 2013, RUB 89 bn were granted in loans, i.e. almost twice of that of December of the previous year.
Such significant results were achieved partly by the expansion of the product line. Military Mortgage — Finished Housing Purchase was replicated throughout the country. Some regions implemented the programme of crediting school teachers and certain categories of population for improving housing conditions. In addition, over the year, interest rates on all housing programmes were reduced by 1 percentage point.
Among all retail portfolio components, the bank’s credit card segment grew most rapidly — in 2013, the portfolio grew by 70% to RUB 270 bn. The number of the cards issued over the year exceeded 12.1 mn, which allowed Sberbank to strengthen its leading position in this segment, increasing the share in the domestic market from 19.9% to 23.5%.
In 2013, the bank’s consumer loan book grew by 23.4% and on January 1, 2014 it reached RUB 1.5 trillion. Origination of new consumer loans exceeded RUB 990 bn.
These figures are largely the result of the bank’s work on improving the products offered:
- The loan questionnaire was simplified.
- All regional operations launched a new consumer loan to refinance foreign loans.
- A loan promotion dedicated to the New Year was held, with up to one-year maturity and loan amounts up to RUB 150,000 at a special interest rate of 14.5% per annum.
- A consumer loan for borrowers with existing credit agreements was launched. The loan is granted to existing customers, part of funds is allocated to full early repayment of the loan, and the balance is used at the discretion of the client.
The loan market, as in 2013, developed modestly: the growth rate was 17.6% as compared with 20.8% in 2012. However, the bank’s loan book outperformed the market and in 2013 increased by 26.7%, or RUB 30 bn3.
Cetelem Bank, a Group subsidiary, established in August 2012 by Sberbank and BNP Paribas, significantly contributed to the growth of auto loan market share. The subsidiary bank specialises in express-lending in retail outlets and express auto loans. In 2013, the loan book of Cetelem Bank more than doubled to RUB 60.9 bn.