Socially-oriented products

Sberbank, with the largest CSO network, is the institution that operates in close cooperation with the most vulnerable groups of population. We are not only responsible for making social payments to them but also we offer favourable terms for products to this client category.

Table 8. Number of clients receiving social payments via Sberbank in 2013

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Payment

Number of clients, mn

Pensions and other payments from the Russian Pension Fund (PFR)

21.8

Military pensions

2.3

Allowances and scholarships

2.6

Children’s allowances

8

Pensions based on PFR contracts

0.6

Total

35.3

Service of pensioners

Currently, we offer three types of special-rate products to our pensioner clients:

  • Sberbank-Maestro Social card to receive pension payments;

  • loans to pensioners that receive pension payments through Sberbank at special rates, which are among the lowest on the market. Simplified procedures are used to process applications for these loans, which are completed within 2 days;

  • standard deposits at special preferential rates. In particular, pensioners can obtain the maximum standard rate for the term they have selected, irrespective of the amount of deposit.

In 2013 over 18.5 mn pensioners chose to use modern and comfortable way of pension payments to Sberbank-Maestro Social card. Last year, pensioners conducted 13.8 mn transactions through our partner shops, obtaining RUB 271.6 mn worth of discounts, which is further evidence that the card is increasingly popular among our pensioner clients.

In 2013, in cooperation with the Russian Union of Pensioners, we continued our effort to enhance financial literacy of elderly people, aiming to change their attitude to banking products and help them master modern technologies. For this purpose, we use various formats of communication including seminars and “Days of Knowledge” held at the bank’s offices, where pensioners obtain information about financial products and how to use modern technologies to manage their personal savings as well as the new web-site format, with a special focus on services for pensioners. Most often these events are held at customer service outlets.

Based on the vast experience we have gained in this field, we developed a unique training programme for pensioners which will be implemented by all regional banks in 2014.

Housing loans

Housing loans are among the products that are most popular among our retail clients. At the end of 2013, the bank’s share of retail housing loan balances was 50.4%, and the number of the housing loans granted was 453,000.

Table 9. Housing loans granted and balance performance

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2009

2010

2011

2012

2013

Granted (RUB mn)

107,359

220,690

345,722

455,522

651,860

Closing balance (RUB mn)

513,993

599,957

769,644

1,005,391

1,393,806

including The Young Family programme

Granted (RUB mn)

32,554

61,657

66,958

95,908

156,407

Closing balance (RUB mn)

96,465

128,127

157,221

206,447

271,024

Improving the availability of housing loans is among Sberbank’s social priorities. Therefore, for the last few years, we have offered a range of products that have special preferential terms for certain social groups.

Table 10. Sberbank’s main socially oriented products in the housing financing segment

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Product

Preferential Terms

2013 results

Young Family

  • Reduced first payment (at least 10%);
    deferred repayment of principal debt;
    revenue recognition of up to six co-borrowers simultaneously (spouses and their parents)

  • Promotional campaigns offering lower interest rates

110,000 loans granted worth over RUB 156 bn

Military Mortgage — Finished Housing Acquisition

  • Annual interest rate 10.5% in roubles, 20-year maturity

  • The first payment is 10%;
    the loan is repaid from the target housing loan provided to the military by the government

2,000 loans granted worth RUB 4 bn

Mortgage + Maternity Capital

  • The Maternity Capital (MC) may be used to cover the first payment or to repay the loan

  • The loan amount may reach 100% of the immovable property value

107,000 borrowers used the MC to repay loans worth RUB 43 bn

Regional housing programmes

  • Reduced interest rates of 10.5% to 12.5% p.a.

  • Acceptance of housing and other certificates which confirm that certificate holders are entitled to financing from regional or federal housing programmes

  • Subsidies from regional or local government, or employers

26,000 loans granted worth RUB 40 bn

Building-and-Loan Associations (Popular Mortgage)

  • Fixed special rate of 6% to 8% p.a. in roubles

  • Regional government funds up to 30% of participants’ savings

4,200 accumulation deposits opened worth RUB 657 mn

Subsidiary banks participate in a range of projects aimed to raise housing availability and improve housing conditions. For example, DenizBank signed an agreement with the Turkish Ministry of Environment and Urbanisation for preferential financing of the reconstruction of residential houses located in earthquake-prone areas. The reconstruction of urban areas is generally viewed by the Turkish government as the primary solution for the earthquake problem which affects 8 mn of households living in earthquake-prone areas. In December 2013, DenizBank issued first loans to the local community under this programme.

Support for students

Over the period of 2010-2013, Sberbank participated in the pilot initiative of the Russian Ministry of Education and Science aimed to provide government support for educational lending. Sberbank granted educational loans while the government reimbursed part of interest payments on the loans granted to project participants. In total, we provided 1,500 loans worth RUB 378 mn in 2013, with the total loans balance at year end of RUB 576 mn. In 2014, we plan to participate in the new government programme designed to support higher education.

Our subsidiary banks also offer a number of products for students. In particular, BPS-Sberbank has developed a special loan product “Studying Together”, which is subject to express approval, based on the Credit Factory technology. DenizBank has also created a package offer for students, which includes a credit card that accrues purchase bonuses, a commission-free bank account, a debit card combined with a university pass, and special preferential terms for educational loans.

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