Sberbank was among the 25 most valuable banking brands in the world in the annual international ranking conducted by Brand Finance and became the only Russian company in this list.
However, Sberbank recognised as most valuable Russian brand in the world ranking Brand Finance Global 500. The value of The brand of Sberbank over the past year increased by 27.5 % or $2.5 and $11.6 billion
photo: Gennady Cherkasov
“This year the savings Bank has achieved exemplary results in terms of brand value and brand strength. Brand advantages become even more compelling in the eyes of Russians, as shown by very high scores in the results of a study by Brand Finance in the area of clients ‘ capital, which is based on our assessment. Startups and the technology ecosystem to invade the financial services industry, but the predominant position of the savings Bank from the point of view of the brand provides a solid Foundation to ensure that the Bank was able to adapt and demonstrate high results”, – commented on the results of measurements of the CEO and President of Brand Finance Plc David Haye.
In turn, the head of Sberbank German Gref said that the Bank and the team is great news and reward for focused work on improving services and quality of service. “We were able to maintain and increase the trust of our customers, the most valuable capital, which acquired the Bank for the 176-year history. Today, responding to the challenges of a rapidly changing world, we are transforming Sberbank into a high-tech digital company of the future”, – said Gref.
– The current position of Sberbank in this status the world ranking can be called a great success. Compared to other Russian companies which are included in the list, compare the world’s elite private club, the savings Bank was able to significantly break away from them in the ascending scale – notes in an interview with “MK” the analyst of “ALOR BROKER” Kirill Yakovenko. – It is important to note that the savings Bank was hard to work in conditions of sharp reduction in price of the brand in 2016, when due to the difference of the exchange rate he lost more than half of the cost, but at the expense of real work on the quality of service and simplify the supply and implementation of banking services Sberbank managed to make up positions. In fact, the largest Bank in the country for a few years was able to conduct a competent high-tech reform and allow the majority of customers to solve many problems without leaving home, via a mobile phone. By putting a priority on high quality of work and attention to the client and also relying on cutting-edge technology such as the blockchain and the universalization of the databases, the savings Bank already has a number of advantages over the others and may count on further appreciation of the brand even in the era of complex economic development in the country.
General Director of “Mani Fanny” Alexander Shustov meanwhile noticed that the success of the savings Bank largely associated with the change management team and the arrival of the Chairman of the Board German Gref. “Certainly, this is one of the most bright, charismatic top-managers of the last decade, which has chosen the strategy of reformation of the Bank, sincerely believed in it and was able to realize. He initiated the unification of the IT platforms on which the Bank worked to restructure the retail business of the Bank, has undertaken radical reform of the loans, transferred the majority of population settlement in non-cash form, reformed the staff. The fact that the Sberbank brand entered the top 25 most valuable brands in the world, confirms the idea that all of these conversions was, though risky, but very useful,” – said the analyst.
According to him, the stock market on which the shares are traded successfully and grow in value, and it evaluates the scope for positive change in the Bank. “Sberbank shares are now showing growth, outpacing the market. There is an opinion that the shares of the savings Bank became a kind of indicator of non-resident interest in Russian assets: if the securities the Bank buy, it means that foreigners are willing to invest the money. There is another view: Sberbank buy our compatriots, who in such form return the capital to their homeland amid growing sanctions from the developed countries, especially the United States. However, both versions say that the shares are popular with investors,” added Pasha.
The company MillwardBrownOptimor, a very reputable firm engaged in the evaluation of brands companies, in 2014 evaluated the brand of “Sberbank” more than $12 billion, reminds the Deputy Director of analytical Department of company “Alpari” Natalia Milchakova. “Given the fact that in subsequent years, the savings Bank increased its competitive advantage on the Russian banking market and has shown impressive financial results, of course, the value of its brand still has room to grow. The position of Sberbank in the international ranking of the most expensive (valuable) brands is quite high, although the brand of “Sberbank” can still go”, says our interlocutor.
Among Russian companies Sberbank ranked first in market capitalization. At the beginning of 2018, the value of companies is estimated at $84млрд, a third more than its closest pursuers. And since the beginning of the year, the company has grown by 18%, and today the capitalization of the savings Bank exceeds $101 billion to Take the lead in the list of Russian companies Sberbank managed by increasing capitalization by 40% over the last year.