Sberbank â Press relase - BNP Paribas Personal Finance
Sberbank â Press relase - BNP Paribas Personal Finance
Sberbank â Press relase - BNP Paribas Personal Finance
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<strong>Sberbank</strong> and <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong> have agreed to expand the activity<br />
of their joint venture after its good performances in the Russian car financing<br />
market<br />
July 18, 2013, Moscow – <strong>Sberbank</strong> has strengthened its strategic positions in the car<br />
loan market by transferring its car loan business, generated through partnerships with<br />
car manufacturers and car dealers, to Cetelem Bank.<br />
Cetelem Bank is a joint point-of-sale finance bank of <strong>Sberbank</strong> and <strong>BNP</strong> <strong>Paribas</strong><br />
<strong>Personal</strong> <strong>Finance</strong>, the consumer lending division of the <strong>BNP</strong> <strong>Paribas</strong> Group. The bank<br />
is operating in the Russian consumer and car loan market and specializes in point-ofsale<br />
lending – retail stores and auto dealers.<br />
The transfer is a part of a large-scale internal reorganization within <strong>Sberbank</strong> Group.<br />
<strong>Sberbank</strong> will continue issuing car personal loans at its branches and the car loan<br />
partnership programs with car manufacturers and car dealers will be transferred from<br />
<strong>Sberbank</strong> to Cetelem Bank. This specialization is part of the bank’s retail strategy and<br />
will allow <strong>Sberbank</strong> Group to upgrade its presence in the car loan market, an important<br />
market for <strong>Sberbank</strong>.<br />
Cetelem Bank is the best vehicle for <strong>Sberbank</strong>’s ambitious growth plans. It specializes<br />
in point-of-sale lending and successfully combines experience in the Russian market<br />
with the innovative technologies of <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong>. For its first ten<br />
months of operation, the joint bank showed solid results: it more than doubled its POS<br />
outstanding and multiplied almost by 4 its personal car loan outstanding. In accordance<br />
with the terms of the transaction, <strong>Sberbank</strong> will increase its stake in Cetelem Bank in<br />
2013 from 70% up to 74% leaving the governance unchanged. After three years,<br />
<strong>Sberbank</strong> has an option to increase its stake in the Cetelem Bank up to 80%.<br />
The switch from <strong>Sberbank</strong> to Cetelem Bank will be done by the end of this year and<br />
executed smoothly in order to respect the partners’ and clients’ interests. The car loan<br />
partnership programs transferred to the Cetelem Bank platform will increase <strong>Sberbank</strong><br />
Group’s share in the car loan market. All partners and clients will receive guaranteed<br />
quality services from Cetelem Bank.<br />
Denis Bugrov, Member of the Board, Senior Vice President, <strong>Sberbank</strong>: “The current<br />
market share of <strong>Sberbank</strong> Group in the car loan market is about 13.9%. We plan that<br />
with the transfers of the car loan partnership programs to Cetelem Bank, <strong>Sberbank</strong> will<br />
increase this figure considerably. The transfer will support credit sales, one of the main<br />
drivers for the Russian car market. This will make loans more accessible to the public<br />
and will increase not only the share of cars sold on credit in Russia, but also the car<br />
market”.<br />
Thierry Laborde, CEO of <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong>: “By transferring all <strong>Sberbank</strong>’s<br />
POS car loan activity to Cetelem Bank, the business portfolio of the JV will significantly<br />
grow compared to what was initially planned. This strategic project will deliver additional<br />
revenue in the next 5 years to <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong> in Russia. This new
development is the testimony of <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong>’s know-how in finance<br />
on the point of sale and partnership with distributors and shows the satisfaction and<br />
trust shared by both shareholders about Cetelem.”<br />
Andrey Lykov, CEO, Cetelem Bank Llc: “Cetelem Bank has clear advantages in the car<br />
loan market. We operate on a modern instant credit decision technology in the<br />
dealership. Our clients get best in class services including simple and transparent client<br />
products and comprehensive consulting as well as a wide range of repayment channels.<br />
Our partners can rely on an individualized approach, diverse forms of cooperation in<br />
issuing car loans, tailor-made credit solutions and services”.<br />
***<br />
<strong>Sberbank</strong> of Russia is the largest bank in Russia and holds almost one-third of aggregate<br />
Russian banking sector assets. The Central Bank of the Russian Federation is the founder and<br />
principal shareholder of <strong>Sberbank</strong> owning 50% of the Bank's authorized capital plus one voting<br />
share. The rest of the shares are held by international and domestic investors. More than 100<br />
million individual customers bank with <strong>Sberbank</strong> and about 1 million of businesses. The Bank<br />
has the largest distribution network in Russia with more than 18,000 offices as well as<br />
subsidiaries in 20 countries including the CIS, Central and Eastern Europe and Turkey.<br />
The Bank holds the general banking license No.1481 issued by the Bank of Russia.<br />
The official website is www.sberbank.ru.<br />
For further information: Alexander Baziyan – tel. +7(495) 957 5721, media@sberbank.ru<br />
***<br />
Cetelem Bank Llc offers a wide range of consumer lending products to its customers that<br />
includes personal loans, auto loans, credit cards and cash loans. Products are available in<br />
Cetelem Bank’s points of sale – retail stores and auto dealers. Cetelem Bank is constantly<br />
expanding its geographical presence. Currently the bank operates across 67 regions of Russia<br />
with a workforce of over 5,500 employees.<br />
The Bank holds license No. 2168 issued by the Bank of Russia.<br />
The official website is www.cetelem.ru.<br />
For further information: Marina Bondarenko – tel. +7 (926) 566 5907,<br />
marina.bondarenko@cetelem.ru<br />
***<br />
<strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong> is the leader in France and in Europe for personal loans via its<br />
activities in consumer credit and mortgage lending. A 100% subsidiary of the <strong>BNP</strong> <strong>Paribas</strong><br />
Group, <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong> has more than 16,000 employees and operates in over<br />
20 countries.<br />
Under brands including Cetelem, Findomestic, and AlphaCredit, the company offers a full range<br />
of personal credit products at points of sale and car dealerships and directly to consumers<br />
through its customer relations centers and the Internet. <strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong> has<br />
added an insurance and savings offering for its clients in France and in Italy.<br />
<strong>BNP</strong> <strong>Paribas</strong> <strong>Personal</strong> <strong>Finance</strong> has developed an active partnership strategy with retailers, web<br />
merchants and financial institutions (banks and insurance companies), based on its experience<br />
with marketing credit offers and integrated services tailored to partners’ business and<br />
commercial objectives. It is also a leading player in the field of responsible lending and financial<br />
education.<br />
For further information: Claude Martin-Franz – tel. +33 1 46 39 97 93,<br />
claude.martin-franz@bnpparibas-pf.com