Annual Report 2014

Dear Shareholders,
Clients, and Partners,

The year 2014 was a tough year for Sberbank, full of macroeconomic instability, geopolitical uncertainties and risks. Nonetheless, our team successfully mastered new challenges, delivering on the targets we had set for the first year of our Strategy 2018. Considering the challenging market environment the financial results that Sberbank achieved in 2014 evidence the bank’s decent performance.

Dear Shareholders,

The year 2014 brought many significant events that created new challenges for Russian economy and influenced activities of all Russian business segments. External political circumstances aggravated negative economic trends. Nevertheless, Sberbank withstood the trial and demonstrated decent financial results. I am confident that the professionalism of thousands of our employees will help Sberbank to handle current challenges and continue successful development to benefit our shareholders, customers, and partners.