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    SBER   RU0009029540


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PJSC Sberbank : Sber approves the Group-wide Corporate Governance Standards

10/15/2021 | 07:12am EST

The Executive Board of Sberbank approved the Policy of Corporate Governance Principles and Standards for the Sberbank Group reflecting the Bank's approaches to building corporate governance systems in Sber Group companies.

These standards are developed in furtherance of the Sberbank's Corporate Governance Code and Sber Group's ESG Policy. They should formalize and specify the Bank's tasks in managing Group companies through becoming a tool for implementation of best corporate governance practices and sustainable development principles in their activities (through the "G" component). The approved standards are aimed at becoming a unifying element and promoting the increase in the Group's manageability and its capitalization.

Specific corporate governance instruments shall be implemented by the Sber Group companies on a case-by-case basis depending on the degree of Bank's control and the current maturity of corporate governance systems in the Group companies. Such changes in companies with the Bank's participating interest of more than 50% shall be mainly introduced by their Boards of Directors. In other companies, the standards shall be implemented using the available methods, on the basis of existing scope of corporate rights.

Corporate governance systems in the Group companies shall be built using the proportionality principle: larger and more sophisticated companies shall require more complex corporate governance systems. While implementing the standards in companies located in foreign countries, the standards shall be applied to the extent allowed by national laws.

The standards are especially focused on the ESG transformation and integration of ESG approaches and sustainable development issues in the corporate governance system of the Group companies with due regard to requirements set forth in the Sber Group's ESG Policy. The ESG agenda shall be introduced by the Board of Directors. It is recommended that the Companies should generate an ESG checklist for their Boards of Directors. While generating an individual ESG agenda, the Group companies should make allowance for long-term business interests, as well as publicly significant social and environmental goals promoting the development of regions of their presence, and solution of relevant social problems.

The Bank is planning to monitor the corporate governance level in the Group companies. With this end in view, the Bank has developed the methodology and metrics for assessment of corporate governance in the Group companies that will serve as the basis for monitoring and compiling their internal rating/index. Implementation of the standards shall be accompanied by training and strategic sessions on corporate governance for the Sber Group companies.

Bella Zlatkis, Deputy Chairman of the Executive Board, member of the Supervisory Board, Sberbank:

"Sberbank's participation perimeter includes many companies and structures with the bank's participating interest. Therefore, we always maintain a focus on the issues related to improvement of approaches to managing such an enormous structure as the Sber group. We hope that the group-wide corporate governance standards prepared by the Bank will become a driver of further development of corporate governance practices and ESG agenda in the Group members, will help to enhance our stakeholders' confidence, and promote the increase of Group manageability level and its economic, environmental and social efficiency."


Sberbank of Russia published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 11:11:03 UTC.

ę Publicnow 2021
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Net income 2021 1 262 B 17 055 M 17 055 M
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P/E ratio 2021 5,71x
Yield 2021 9,03%
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