Sberbank information (materials)

Development of the Product Range

Sales of a new residential product, Military Mortgage, for Purchase of Finished Property started in December 2011 at six territorial banks. Loans are granted to servicemen members of the Savings and Mortgage System for Provision of Housing to military personnel. A decision on promoting the product throughout the country will be made after a pilot project in the second half of 2012.

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  “the Bull's Eye” promotion started in July 2010 with the following conditions: a rate of 10% p.a., an initial installment of 10%, and a credit period of 10 years. Loans were granted for the purchase of properties that were/had been built by Sberbank's clients using its loan proceeds;
  
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  the “Take for 8” promotion on such conditions: a ruble rate of 8% p.a., a credit term of up to 8 years, and a credit decision made within 8 days.
  

Car Loans

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  lifted the requirement for a written consent from the borrower's spouse to have the credited car pledged;
  
• 
  offered borrowers an opportunity to add the payment for membership in the collective voluntary life and health insurance program to the car loan amount;
  
• 
  allowed its clients, from February 2012, to have a loan granted on the basis of two documents.
  

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  the Youth segment – borrowers aged 18-20 with fewer than four months’ work experience. The loan is granted with surety from their parents;
  
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  borrowers whose pension income is transferred to Sberbank's accounts.
  

• 
  doubling the maximum amount of unsecured consumer loans and consumer loans with surety from retail clients;
  
• 
  increasing the borrower's maximum age limit to 65 years for unsecured consumer loans;
  
• 
  starting a pilot project to liberalize requirements pertaining to the client's domicile.
  

• 
  simplifying the form of certificate from the university on the borrower's academic progress;
  
• 
  adopting a unified approach to using and repaying the loan;
  
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  optimizing collaboration with universities in terms of provision of details of students' loan requests;
  
• 
  revising the procedure and criteria of selection of state-accredited educational establishments;
  
• 
  revising criteria of students' good progress.
  

• 
  gave borrowers an opportunity to obtain loans worth up to 1 mln. rubles on an annual basis (the total loan payable used to be limited to 1 mln. rubles);
  
• 
  extended the term for submission of a report on intended use of loan proceeds from 45 to 90 days;
  
• 
  allowed providing the Bank with a simple written power of attorney to deliver documents to authorities that pay out subsidies.
  

Retail Loans for VIP Clients

Optimization of the Credit Process

In 2011, in order to optimize the credit process, the Bank:

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  shortened the period for notifying clients of its decision with SMS messages;
  
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  simplified the procedure for certification by credit staff of copies of documents submitted by the borrower and the procedure for delivery of credit documentation to borrowers;
  
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  simplified acknowledgement of client's incomes—a statement can be submitted based on the Bank's own form;
  
• 
  allowed borrowers to repay their loans from an account different from the account loan proceeds were transferred to;
  
• 
  allowed early repayment of loans in any amount and in any period of loan utilization on the date of the scheduled payment under the loan.
  

In addition, in the territory of Moscow Bank and in OPERU [Operations Department] of Sberbank:

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  automated the transfer of loan proceeds to the account of the client's debit card and to target beneficiaries;
  
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  implemented a feature for executing additional orders for the debiting of funds towards loan repayment. This decreased the rate of technical overdue debt and the load on divisions dealing with overdue debt;
  
• 
  moved lending operations to remote channels.
  

The technology used by the Bank's employees operating at the site of borrowers' employers to formalize consumer loans was also adjusted in the reporting year. As a result, this saves time both for the client (the Bank's office is visited only once) and the Bank (requests are entered into the system directly from the companies' own facilities).

Currently, consumer loans, car loans and main housing lending programs are based on the centralized Loan Factory technology, designed to improve performance of lending operations and the quality of service with an invariably high portfolio quality. In 2011, the following results were achieved in the development of this technology:

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  all territorial banks were finally connected to the Loan Factory technology;
  
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  the average request consideration period fell from 35 hours in 2010 to 29 hours in 2011;
  
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  requests from clients whose salaries are credited to accounts in Sberbank are considered in 2 hours. One only needs to produce their passport and indicate the salary account number to have a loan granted;
  
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  lending limit is calculated with a view to estimated income of the borrower;
  
• 
  subsidiaries started implementation of a similar lending technology for retail clients.
  

As part of the Loan Factory, 6.4 mln. requests were received in 2011(3.0 mln requests in 2010) and 4 mln. loans worth about 690 bn. rubles were granted (in 2010: 2 mln. loans worth about 290 bn. rubles) or 56% of all loans granted by the Bank to retail clients in 2011.

During Innovation in Banking Technology Awards 2011, The Banker recognized the Loan Factory project as highly rated in the Innovation in Risk Management Technology category. The project was also recognized as the largest project submitted to the competition.

There are plans to move new products to the Loan Factory technology, including Express Loans, Car Loan Based on 2 Documents, special mortgage lending programs, educational loans, loans to small farmers etc.

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