JSC Non-state Pension Fund of Sberbank has closed the deal to acquire a 100% stake in JSC NSPF Renaissance pensions. The deal was closed after obtaining an approval from the Central Bank of Russia.

Founded in 2002, NSPF Renaissance pensions has some 200 corporate customers, including some major international holding companies. Over 42,000 clients use the pension programs of NSPF Renaissance pensions, which has RUB 24.5 bn in assets.

The acquisition will enable NPF of Sberbank to build its portfolio of corporate clients, which now includes over 800 companies, and reinforce its leading position in the market for corporate non-state pension funds.

NSPF Renaissance pensions clients will gain more confidence in stable and long-term cooperation with their pension provider - Non-state Pension Fund of Sberbank has operated for 26 years, being a leader in non-state pension coverage.

NPF of Sberbank is set to improve the quality of customer service for NSPF Renaissance pensions users and maintain its individual approach to the needs of corporate customers.

Other advantages include high-tech customer services and digitized customer experience, which in part will be achieved due to partnerships with Sber ecosystem services.

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Sberbank of Russia published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 07:17:02 UTC.