Sberbank information (materials)
Funds Raised from Corporate Clients
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- Services to Corporate Clients
- Services for Foreign Economic Activities and Foreign Currency Controls
- Trade Finance and Documentary Transactions
- Cash Collection Service
Funds Raised from Corporate ClientsRaising funds from corporate clients are among the Bank's major business areas. The average daily balance of funds raised from corporate clients in 2011 grew 5.7% to 1,871 bn. rubles. The better part of the year, the Bank maintained a sufficient margin of liquidity and, therefore, was able to pursue a pricing policy for funds raised from legal entities that was conservative, as compared to its competition. As a result, Sberbank's share in the market of legal entities' funds fell from 15.9% to 14.5% during the year. Funds in settlement accounts (54%) and deposits (37%) prevail in the structure of clients' funds. The share of corporate clients' funds invested in the Bank's promissory notes and depositary certificates was 3%. Letter of credit and interest payment liabilities account for the balance of funds. In 2011 the Bank implemented fixed (public) rates for funds raised from corporate clients and invested in fixed-term instruments. Clients are offered an opportunity to enter into a deposit contract or a transaction that raises funds to the minimum balance on Sberbank's website. Services to Corporate ClientsCash Management ServicesA new product, the Unified Bank Service Agreement, was implemented in 2011. Clients follow a simplified procedure to execute a bank service agreement for a package of banking services (currently – 10 services) without having to enter into separate bilateral agreements. Rules are unified throughout all divisions and available on Sberbank's website. Centralized reissue of bank accounts is now available to major business clients that undergo reorganization and merge with other legal entities. The service helps to reduce significantly the period for reissue of bank accounts of multi-branch companies and boosts client loyalty. Products such as One Balance and Overdraft with a common limit were implemented for multi-branch and holding companies. Individual service offerings include integration with the holding's accounting system through a unified payment gateway allowing the holding to centralize cash management services provided to subsidiaries/affiliates. A centralized system, SberbankCorpor@tion, was implemented as an IT platform for further expansion of the product range for holdings. Large-scale effort was made in 2011 to unify rates for corporate clients. This resulted in unified rates for 90 types of services for legal entities in each constituent entity of the Russian Federation (separate rates were established in a number of units for centers of such entities and major economically developed cities). This significantly improved rate manageability throughout the Bank and had a positive impact on client loyalty. The modern centralized system of remote services, Sberbank Business Online, was replicated during the reporting year. Over 260,000 clients, or 60% of the Bank's corporate clients, joined it by year's end. Services for Foreign Economic Activities and Foreign Currency ControlsIn 2011 the worth of operations facilitated by the Bank under contracts between residents and non-residents for export/import of goods, performance of work, provision of services and assignment of results of intellectual activity and under commission contracts between residents as part of foreign trade transactions amounted to 153.7 bn. US dollars, or 9.2% above the 2010 figure. The Bank provided services under and prepared transaction passports for 99,000 foreign trade contracts of clients. The number of transaction passports fell by 67,000 as compared to 2010 due to legislative amendments that increased the minimum threshold of the contract price for transactions to be supplied with a transaction passport from 5,000 to 50,000 US dollars. Trade Finance and Documentary TransactionsThe amount of the Bank's trade finance and documentary business in 2011 reached over 1 trillion rubles allowing Sberbank confidently to occupy the position of leader among Russian banks in this respect. The worth of the Bank's documentary business18 in 2011 was in excess of an equivalent of 900 bn. rubles. The worth of domestic Russian letters of credit was 1.5 times that of the previous year and reached over 37.4 bn. rubles. Within trade finance, over 950 transactions totaling about 176 bn. rubles, or 1.5 times that of the 2010 amount, were made using a variety of instruments. In particular, the Bank made 46 transactions within bilateral agreements with foreign banks to raise funds exceeding an equivalent of 114 bn. rubles. Largest creditors under trade finance transactions included Bank of America Merrill Lynch, Bank of New York Mellon, Citibank, Commerzbank, Mizuho Corporate Bank and The Royal Bank of Scotland. In trade finance Sberbank developed the following types of transactions: post-import finance, finance covered by export credit agencies, related finance, L/C operations, issue of reimbursement liabilities and the grant of guarantees as instructed by Russian banks and banks from CIS countries, and other transactions. The Bank made a landmark transaction in 2011 with Acron Group to establish a total limit for 8 years for transactions of trade finance for procurement of import equipment within the Group's investment program. It was for the first time that the client was offered an end-to-end complex structured product that included practically the entire range of instruments of trade and export finance. Cash Collection ServiceAs of 1 January 2012, 462 cash collection divisions provided services to legal entities, retail clients and commercial banks, and carried out transportation within Sberbank's system. The number of ATMs and other self-service terminals catered for by collectors reached 28,911 units, the number of clients that received collection services – 37,515, the number of clients to whom cash was delivered – 8,039. A total of 22.5 trillion rubles worth of cash and valuables was transported during the reporting year, or 1.2 times that of the 2010 figure. Sberbank's cash collection office continues implementing modern operation methods that involve, in particular, the use of special containers and disposable packages. Cash collection and cash receipt service standards were accepted. Requirements placed on client's items admitted to cash collection were liberalized, and service time was reduced. Production capacity of cash collection units is being increased. 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