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PJSC SBERBANK

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PJSC Sberbank : Sberbank Insurance insures construction of residential complex in Leningrad Region for RUB 5.4 bn

07/28/2021 | 08:04am EDT

Sberbank insurance, a Sberbank subsidiary, has insured the construction of two houses in ID Kudrovo residential complex for RUB 5.4 bn. At the construction stage, the property of the developer Euroinvest Kudrovo is protected from all risks, including fires, natural disasters, wrongful acts of third parties, and more.

The residential complex will consist of several twelve-story buildings with an outdoor parking lot and a multi-story car parking lot, a parking lot for bicycles, strollers and storage rooms. Three kindergartens and a school are also in the pipeline. A coffee joint and an ID Club, a 120-meter room for residents where they will socialize, will be opened on the adjacent territory.

The ID Kudrovo project goes beyond the construction of residential buildings. It also implies social infrastructure facilities. For us, this contract is another step in expanding our insurance portfolio of construction and installation risks, which is a vital line of business for Sberbank insurance. The number of such contracts in 6M 2021 increased by 24% compared to the same stretch last year, and we expect this segment to maintain its development rate moving forward.

Vitaly Pavlovsky

Director, Corporate Insurance Directorate, Sberbank insurance

Earlier, Sber had financed the construction of the fourth and fifth stages of the ID Kudrovo residential complex by providing RUB 7.7 bn. ID Kudrovo is located in the city of Kudrovo, Vsevolozhsky District, Leningrad Region. The total area of the project is 89,000 square meters.

Sber is currently a Euroinvest Development Group partner in three residential complex projects: ID Kudrovo, ID Murino, and ID Moskovskiy.

Disclaimer

Sberbank of Russia published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 12:03:09 UTC.


© Publicnow 2021
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Sales 2021 2 500 B 34 344 M 34 344 M
Net income 2021 1 126 B 15 464 M 15 464 M
Net Debt 2021 - - -
P/E ratio 2021 6,37x
Yield 2021 8,21%
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Capi. / Sales 2021 2,99x
Capi. / Sales 2022 2,76x
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