Opening Statement from Chairman of the Supervisory Board

Photo: Sergey Ignatiev

Sergey Ignatiev

Chairman of the Supervisory Board

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.

Sberbank is the backbone of the Russian financial sector with the leading positions in key segments on the Russian market. Sberbank has been continually strengthening its position as a customer-oriented innovative bank that is actively implementing the latest technologies and techniques and improving its services. Supported by the necessary expertise, Sberbank Group is developing its business in different regions of presence.

The key focus for Sberbank is improving its corporate governance. Currently, the bank has embarked on a programme for implementing the recommendations of a new Corporate Governance Code of the Russian Federation. I would like to emphasise that Sberbank pro-actively interacts with all categories of shareholders, seeing to their rights and balancing their interests.

I am confident that Sberbank Group employees will continue to successfully implement its development strategy to benefit the bank’s customers, partners, shareholders and the society.