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Sbertime 02/18 SBERTIME 02/18 Kazakhstan: 100 steps to the top of the economic ladder The EU Multiannual Financial Framework 2021–2027: who wins, who loses? SBERBANK SERBIA AT KOPAONIK BUSINESS FORUM n March, representatives of Sberbank on to a cashless society and highligh- ISerbia attended Kopaonik Business ted Sberbank Serbia’s projects invol- Forum, the most prestigious business ving cashless technology, such as the event in Serbia. The event focused on fis- “Super Card” partnership and “Together cal consolidation and included several on the Road”, a joint project with NIS panel discussions. Marijana Vasilescu, Gazprom Neft. Serbia's most respect- CEO of Sberbank Serbia, took part ed economists, politicians, diplomats in the panel on the development of a and journalists have been attending the cashless society in Serbia. Ms. Vasiles- Kopaonik Business Forum since its in- cu talked about obstacles preventing ception in 1994. This year’s event regis- the country from making the transiti- tered a record of 1,000 participants. SBERBANK SLOVENIA HAS THE BEST MOBILE WEBSITE or the 12th consecutive year, the FSlovenian company E-Laborat ana- lyzed the Slovenian banking industry's digital presence. Websites, mobile sites and online banking apps were evaluated for content, functionality, and how well they are customized to users’ habits, expectations and experi- ence. Sberbank Slovenia received the maximum score and was ranked first in the mobile websites segment. The bank also ranked second in the cate- gory of desktop websites, with a total of 63 points. SBERBANK BANJA LUKA OBTAINED “ICERTIAS” CUSTOMER’S FRIEND CERTIFICATE berbank a.d. Banja Luka is now offi- superior service and support to their Scially a “Friend of Clients” according customers, employees and business to the Customer's Friend Certification partners. Sberbank Banja Luka is the sec- awarded by the International Certificati- ond bank within the Sberbank Europe on Association (ICERTIAS). ICERTIAS re- Group to be recognized by ICERTIAS cognizes legal entities that have a high after Sberbank Serbia, which obtained quality relationship with and provide the award at the beginning of 2017. 2 NEWS ROUND-UP eTORO ENTERS CZECH MARKET WITH SUPPORT OF SBERBANK EUROPE he world’s leading social trading ed into Czech, giving investors in Tand investment network eToro is the Czech Republic access to 1,200 expanding into the Czech Republic trading instruments including equi- with the support of Sberbank CZ. ties, ETFs, currencies, commodities, Operated by eToro (Europe) Limit- indices and the world’s largest cryp- ed, eToro is a unique social trading tocurrencies, plus an option to dis- platform encouraging its users to cuss trading strategies with eToro’s interact, discuss trading strategies community of investors from around and copy successful investors using the globe. eToro numbers more than its patented CopyTrader technology. nine million registered users across The platform has now been translat- 170 countries. berbank Europe is pressing ahead SBERBANK Swith the automation of its banking processes. In 2017, Sberbank Croatia EUROPE successfully implemented several au- tomated solutions, including integra- FOSTERING tion of the loan workflow application. Recently, Sberbank CZ added a num- ROBOTIZATION ber of tasks performed by its “staff” robot. Currently, “Standa” the robot is capable of performing many stan- dardized tasks like processing of loan applications, drafting loan agree- ments, drawing loans, authorizing FX deals, and opening and closing ac- counts. The Sberbank robots have been a great help to their human colleagues, saving the latter many hours in order to focus on more sophisticated tasks. SBERBANK CZ CELEBRATES GLOBAL MONEY WEEK uring Global Money Week 2018, budgeting skills at a young age. This DSberbank CZ organized an interac- interactive lesson gave the kids a fun tive session for first-graders at its Wen- introduction to the world of banking,” ceslas Square branch in Prague. The explains Sberbank CZ PR Manager kids were taught basics about how a Radka Černá. Global Money Week is bank works and how to use their pocket a global money awareness event that money smartly before being presented takes place every March, focusing on with “Junior Banker” certificates. “We financial inclusion and engaging chil- believe it is important to develop basic dren in learning about finance. CONTENTS 8 12 6 GOING INTERNATIONAL! 20 THE EU MULTIANNUAL FINAN- Editorial by Gerhard Randa, CEO of Sber- CIAL FRAMEWORK 2012–2027 bank Europe Is conflict inevitable?And who are the winners and losers? 8 FINANCIAL RESULTS 2017 Sberbank reports net profit of RUB 748.7bn 25 NOW ON BOARD AT SBERBANK (€10.9bn) for 2017 EUROPE: Alexander Witte and Aleksei Mikhailov 12 KAZAKHSTAN Escaping the middle-income trap? 26 AUSTRIAN INVESTORS ARE OPENLY WELCOMED IN RUSSIA Interview with Rudolf Lukavsky, 16 LEADERS IN INTERNATIONAL Austrian Economic Delegate for Russia PAYMENTS Intervíew with Aleksandr Kamalov, Chairman of the Board of 29 THE KEY TO TRADE RELATIONS SB Sberbank JSC (Kazakhstan) Interview with Angelo Rizzuti, Head of Transaction Banking at Sberbank Europe 4 OVERVIEW 20 40 30 VAMED 42 "WHAT MATTERS TO OUR STAKE- If healthcare were an Olympic discipline … HOLDERS, MATTERS TO US" Sustainability and Corporate Social 32 THE BACKBONE OF THE Responsibility ECONOMY Inside Sberbank Europe’s SME business 44 NEWS Cultural events and sports at Sberbank Europe 36 CZECH REPUBLIC A milestone birthday 47 LEGAL INFORMATION 40 WE ARE REAL COMPETITORS Interview with Edin Karabeg, new CEO of Sberbank Czech Republic 5 Going International! EU SEE DE CZ SK AT HU SI HR he economy in our core markets is doing better BL than it has for a long time. The global upswing contin- BIH RS ues,T and the European economy is keeping pace with the trend. Here at Sberbank Group we have used this favorable economic climate to put our house in order and get ourselves fit for the future. Over the past year we have enhanced the quality of the manage- ment teams of our Group banks at all levels and developed a clear business strategy. We have opted for a policy of selective growth in all customer seg- ments and are investing in the dig- italization of our business model. Our prime focus is on customer benefit, because this is the only way we can create added value for you, our cus- 6 EDITORIAL time the focus of our reporting is on Kazakhstan, where the economy is also currently benefiting from the con- ducive external environment. Presi- dent Nursultan Naserbayev also means to put a strong personal stamp on de- velopments in Central Asia's largest state, however, and has put forward a plan comprising 100 concrete mea- sures intended to catapult Kazakhstan into the ranks of the world's leading economies by 2050. With Kazakhstan being a key partner in China's New Silk Road initiative, his chances of succeed- ing look good. The opportunities that will open up from the country's integration into the Eurasian Economic Union are consider- able, and Sberbank Kazakhstan – which DE in 2006 was the first step in the interna- tional expansion of Sberbank of Russia – is busy leveraging them. This is already evident from the fact that Sberbank CZ Kazakhstan offers its services in five languages: Kazakh, Russian, English, Turkish and Chinese. The Kazakh sub- SK sidiary has also set up an International Desk with the capacity to service over a thousand international corporations. AT There's certainly plenty of progress HU afoot in this Central Asian republic. SI Last but not least, I'd like to draw your HR attention to our interview with Rudolf Lukavsky, the Austrian Economic Del- tomers. Delivering this while remaining can be. The very specific negative im- egate for Russia. The potential afford- BL as effective and efficient as possible is pacts on a number of individual cor- ed to companies by the expansion of in any case part of the standard reper- porations and sectors could quickly Russia's infrastructure under the Silk BIH RS toire of our management team. transmit the mood of uncertainty to the Road initiative, or major future projects industry as a whole, thus detracting like the Nord Stream 2 pipeline, for in- Despite all these positive develop- from the otherwise buoyant economic stance, is immense, and just waiting to ments, we still have to keep an eye out environment. be exploited. for potential dangers that can swiftly exert a negative impact. At the start It is to be hoped that global economic We'd be delighted to partner you in of the year we registered some turbu- cooperation will not suffer any major making the most of that potential. lence on the financial markets and an setbacks. More than ever, we are feel- Sberbank Europe looks forward to associated increase in volatility. The ing how closely interlinked we all are in providing you with advice and support element with the potential to place a the end and how business in our core for your business activities in all the much greater strain on the real econ- markets is dependent on geopolitical many areas covered by our large bank- omy, however, are the tendencies decision-making. ing group. that could evolve from a combination of tighter sanctions and protectionist Fittingly enough, this issue of SberTime In this spirit I remain, yours sincerely, measures on the part of the US govern- once again showcases the huge and ment. It is crystal clear to us how frag- varied spectrum of markets in which Gerhard Randa ile a perfectly solid-looking economy the Sberbank Group operates. This CEO Sberbank Europe 7 Financial Results 2017 Sberbank reports net profit of RUB 748.7bn (€10.9bn) for 2017 8 SBERBANK n 1 March 2018, Sberbank a year ago. The main drivers of this released its annual consoli- growth were bank card transactions, dated IFRS financial state- which net of applicable costs increased ment for the financial year by 32.8% in 4Q 2017 y/y.
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