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Thursday, July 27, 2017

Sberbank supervisory board to meet

Sberbank, the largest bank in Russia and Eastern Europe, announced that its supervisory board met at the head office in Moscow this week.

The draft agenda of the meeting includes the approval of Sberbank's Development Strategy 2014-2018, the operating results for the first nine months of 2013 and the financial results for the first 10 months of 2013, the results of audits conducted by the internal control service of Sberbank for the first nine months 2013, and approval of the audit plan of the internal control service for 2014.

Sberbank, which dates back to Cancrin's financial reform of 1841, offers a full range of savings, investment, and lending services.

The Central Bank of the Russian Federation is a majority shareholder of Sberbank, owning 50 percent plus one share of Sberbank's voting shares, with the rest of the shares dispersed among portfolio, private and other investors. Foreigners hold an estimated 20 percent of the bank's shares.

Russia's central bank cannot sell down its stake further without a change in Russia's laws.