Sberbank Online Bank

Sberbank has released its Annual consolidated IFRS financial statements as at and for the 12 months ended 31 December 2018, with audit report by AO PricewaterhouseCoopers Audit. All information is presented net of Denizbank A.S. operations, unless stated otherwise. Herman Gref, Chairman of the Executive Board, CEO, commented: "2018 was an important year for Sberbank. Not only did we report a record net profit and reach a Return-on-Equity of over 23%, we also successfully completed the first year of the execution of our Strategy 2020. Furthermore, we embraced the ambitious challenge of carrying out our technological transformation. We completed the revision of all major IT initiatives, hired experienced IT experts, radically redesigned our production process, and integrated our businesses with IT in order to develop our platform. We learnt to implement changes faster, improve our processes and products faster, making them more convenient and time-saving for our clients. Yet we have a long way to go in perfecting client experience, introducing new services to the Sberbank platform and developing new skills among our team in order to build a data-driven company with a high level of collaboration. The achievement of our strategic goals is the key to our confidence in facing external challenges and to providing for the sustainable growth of shareholder value."