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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Sberbank of Russia    SBER   RU0009029540

SBERBANK OF RUSSIA

(SBER)
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Sberbank of Russia : Decision on every third working capital loan for large and mid-sized businesses taken within 7 minutes at Sberbank

10/23/2020 | 05:05am EST

Sberbank is summing up the performance of Online Lending, a service for corporate customers that can decide within seven minutes whether or not to issue a working capital loan. Since its launch in August 2018 and until now, over 3,600 agreements with an aggregate worth of more than RUB330 bln have been signed.

Sergei Bessonov, Vice President, Director of Lending Products and Processes, Sberbank:

'Not only have we dramatically reduced the decision-making time - it's seven minutes or less between getting a customer request and handing him or her a loan agreement - but we've also moved all transactions online to SberBusiness member areas. We've been able to achieve this decision-making speed by integrating AI into our processes.

Online Lending today is available to more than 10,000 large and medium-sized corporate customers of Sberbank. Every third decision to issue a working capital loan is now being made using this service, and next year we're set to increase the share of such loans to 60%. Importantly, the quality of servicing these loans exceeds that of the loans issued the 'usual' way significantly: for example, the NPL metric is under 0.1%.'

The solution is unique as the entire customer journey of obtaining a loan - from applying to having the money debited to your account - is as quick as possible, done remotely, and requires no paper documents. This AI-based know-how is available in the Russian banking market to Sberbank clients only. You can apply for an online loan via the SberBusiness app. The maximum amount you can apply for is unlimited and depends on the customer's assessment by the bank only.

Disclaimer

Sberbank of Russia published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 09:04:03 UTC


© Publicnow 2020
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Financials
Sales 2020 2 218 B 29 165 M 29 165 M
Net income 2020 698 B 9 173 M 9 173 M
Net Debt 2020 - - -
P/E ratio 2020 7,95x
Yield 2020 6,15%
Capitalization 5 398 B 71 025 M 70 983 M
Capi. / Sales 2020 2,43x
Capi. / Sales 2021 2,35x
Nbr of Employees 276 598
Free-Float 45,1%
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Number of Analysts 15
Average target price 295,83 RUB
Last Close Price 251,18 RUB
Spread / Highest target 85,7%
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Herman Gref Chief Executive Officer & Member-Supervisory Board
Anton Germanovich Siluanov Chairman-Supervisory Board
Alexandra Buriko Chief Financial Officer & Head-Finance
David Rafalovsky Chief Technology Officer & Executive VP
Sergei Mikhaylovich Ignatiev Deputy Chairman-Supervisory Board
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