Socially oriented products
Sberbank has an important function as an intermediary for social payments to the general population, including pensions, scholarships, and allowances for children. We distribute payments to 36.7 million people in total, accounting for a quarter of the Russian population.
|Payment||Number of clients, mn|
|Pensions and other payments of Pension Fund of Russia||21.8||23.3|
|Allowances and scholarships||2.6||3|
|Pensions based on agreements with private pension funds||0.6||0.6|
Sberbank not only makes pension payments, but also offers products on special conditions to customers of retirement age: bankcard for pension, loans at lower interest rates, and deposits at special rates. In 2014, the number of pensioners using “social” cards increased to 26.4 million (18.5 million in 2013). The number of deposit agreements concluded with retirees on special conditions exceeded 30 million in the reporting period.
In 2014 we introduced a new service for pensioners and some vulnerable categories of citizens to get free federal retirement benefit statements and other types of social benefits from the pension fund of the Russian Federation, credited to one’s Sberbank account. Clients can get helped at any Sberbank customer outlet or through Sberbank Online service.
In order to evaluate the results of our work with special population groups, we are monitoring the satisfaction rate of our customers in different segments on an annual basis. NPS and satisfaction of retirees demonstrate stable and good results — 64% and 88 points respectively. It is noteworthy that results of these studies in the pensioners’ segment exceed the average values for all Sberbank clients (60% and 86 points respectively).
Figure 14: Pensioners’ Net Promoter Score (NPS) According to the annual Loyalty and Client Satisfaction Survey of service quality in Sberbank and in competitor banks conducted by an independent company., %
Figure 15: Survey of pensioners’ satisfaction rate (CSI) According to the annual Loyalty and Client Satisfaction Survey of service quality in Sberbank and in competitor banks conducted by an independent company., points
BPS-Sberbank has developed a special bank deposit for retirees “Pensionny”, which offers an increased interest rate, and the banking package “Pensionny-Legkiy”, which includes issuance of a bankcard and other services. DenizBank together with the Turkish association of retired persons issued a bankcard that provided retirees with various bonuses. The number of cardholders increased from 89.7 thousand to 208.4 thousand people during 2014.
Sberbank launched a new product entitled “Government-supported student loan” in August 2014, which aims to stimulate the development of secondary technical and higher education in the Russian Federation, and is implemented jointly with the Ministry of Education and Science of the Russian Federation. As a part of the programme, the government partly reimburses to students the cost of study at ¾ of the refinancing rate. Thus, the student loan rate will be ¼ of the refinancing rate plus five percentage points, which at the moment is only 7.06%. The lending programme aims at long-term training of students and 10 years after graduation students can extend the loan periods in some cases. This is a pilot project and it will be extended in 2015.
We issue the “Molodezhnaya” debit and credit card specially for young people with a low annual fee, discounts, accrued bonuses and special offers from payment systems. In 2014, the transactional activity with “Molodezhnaya” cards grew by 6%.
NPS and satisfaction level of young people with our services is consistently higher than that of our competitors. In 2014, NPS increased significantly. The number of young people who are ready to recommend us to their friends and relatives increased by 8 percentage points as compared to the previous year.
Figure 16: Youth segment NPS Based on the results of the annual Net Promoter Score and Customer Satisfaction Index for Sberbank and competitor banks conducted by an independent company., %
Figure 17: Survey of Customer Satisfaction Index for the youth segment (CSI) Based on the results of the annual Net Promoter Score and Customer Satisfaction Index for Sberbank and competitor banks conducted by an independent company., points
DenizBank, a Sberbank Group member, also provides students with education loans at reduced rates. In addition, in collaboration with four major universities of Turkey, DenizBank produces credit cards which are used as student access cards at the same time. The bank developed special “Youth” accounts for students with bonuses and special offers without a service fee. Education loans are also provided by BPS-Sberbank and Sberbank Kazakhstan.
An important social task for Sberbank is to increase affordability of housing for the population. For this purpose we adopted a new customer service model for mortgage lending by expanding the network for acceptance of mortgage applications in 2014. Now to file an application our customers do not need to go to the mortgage centre — they can apply at any bank office with the sales manager or mortgage lending manager’s assistance. In 2013 our clients were consulted by 2,000 Sberbank professionals and in 2014 the number of qualified mortgage sales consultants increased to 20,000, which significantly simplified the population’s access to mortgages.
|Product||Preferential terms Indicated favourable conditions were effective in
||Year 2013 results||Year 2014 results|
Reduced initial payment (10%)
Deferred repayment of principal debt
Conducting of promotional campaigns
110.1 thousand loans granted worth
over RUB 156 bn
|183.7 thousand granted worth over RUB 284 bn|
Military mortgage — finished
Annual interest rate from 9.5% for up to 20 years In 2013 the rate was 10.5%. At the beginning of 2015 the rate was 12.5% for a period up to 15 years.
Initial payment of 10%
Loans are repaid with targeted housing loans provided to soldiers by the government
1.6 granted worth
over RUB 2.78 bn
3.6 granted worth
over RUB 6.6 bn
|Mortgage plus maternity capital||Use of maternity capital as an initial payment on a loan or on its repayment||Maternity capital used by 107 thousand borrowers to repay loans for an amount of RUB 43.8 bn||Maternity capital used by 120.7 thousand borrowers to repay loans for an amount of RUB 46.5 bn|
|Regional housing programmes||
Acceptance of housing and other certificates which confirm that certificate holders are entitled to financing from regional or federal housing programmes
Subsidies from regional and local government, as well as from employers
|26 thousand loans loans granted worth RUB 40 bn||12.2 thousand loans loans granted worth RUB 66 bn|
|State housing certificates||Participation in the federal targeted programme of housing to implement state obligations to provide housing to certain categories of citizens stipulated by federal legislation||Through Sberbank 13.4 thousand certificates granted worth RUB 25.9 bn||Through Sberbank 9.7 thousand certificates granted worth RUB 20.2 bn|
|Building-and-loan associations (Popular Mortgage)||
Accumulation of the initial payment on special accounts from 3 to 6 years
Fixed reduced interest rate from 6 to 8% per year
Regional government budget subsidises up to 30% of participants savings
|4.2 thousand accumulative deposits opened worth RUB 657 mn Data provided for the end of the period cumulatively.||
10 thousand accumulative deposits opened worth RUB 1.2 bn
48 loans granted worth RUB 29 mn
|Special Offer for teachers||Special conditions for education workers: a 0.5% discount to the interest rate reduced to 10% of initial payment, loan term up to 14 years The event was dedicated to the International Day of Teachers and took place from 26.09 to 31.12.2014||-||2.1 thousand loans granted worth RUB 2.7 bn|
Sberbank Kazakhstan also implements “Young family” programme, meanwhile BPS-Sberbank provides loans at reduced interest rates to people who need to improve their housing conditions. Within the state programme for reconstruction of houses located in the areas of Turkey with high risk of earthquakes, DenizBank provides loans for modernisation of buildings for the second consecutive year.