Sberbank : waives depositary fees for tax disclosure of US-issued securities

Sberbank clients who are qualified investors now have access to more favorable conditions when trading in shares and ETFs from US issuers on the OTC market.

As part of the campaign, which will last from May 24, 2021, to May 1, 2022, Sberbank has waived the depositary fee of RUB 1,500 paid by clients when a corporate action occurs, such as payout of dividends on shares or ETFs.

The number of our clients trading on the stock market has been increasing steadily over the past few years. While there are a lot of people new to trading among them, there are also a significant number of qualified investors who are interested in a wider range of investment tools. Foreign stocks in particular make up 19% of total client assets managed by Sberbank's brokerage service. It is important to us that we create comfortable conditions for all categories of investors. This new campaign will enable our clients who are qualified investors to lower the dividend tax rate for shares and ETFs by American issuers. They will also be exempt from the RUB 1,500 fee previously charged when corporate actions like these occurred.

Vladimir Yarovoy

Acting Director, Global Markets, Sberbank