2015 Annual Report

ru

Corporate Governance system

Sberbank’s corporate governance system is based on an organisational model designed to regulate the relationship between the managers, the Supervisory Board, and the shareholders and which sets forth the corporate decision-making rules and procedures that ensure the management and control of Sberbank’s activities.

The corporate governance system is based on the Corporate Governance Principles developed by Sberbank.
The corporate governance system is based on the Corporate Governance Principles developed by Sberbank.
Sberbank’s corporate governance system in graphic form may be set forth as follows.
Sberbank’s corporate governance system in graphic form

Approach to corporate governance

We have been focused on the application and development of the best corporate governance practices relying on the fact that a well-balanced and transparent corporate governance system is a prerequisite for building trust in our customers, shareholders, and investors and the key driver of sustainable business development.

The circulation of the Sberbank’s shares on MICEX and its depositary receipts on London and Frankfurt trading platforms imposes additional responsibility on Sberbank and requires compliance with the stock exchange rules and investor requirements.

Sberbank’s Supervisory Board is continuously seeking to establish mechanisms for further improvement of the corporate governance system to ensure the rights and legitimate interests of shareholders, increase business efficiency, increase the transparency and investment attractiveness of Sberbank, and preserve and enhancing equity capital.

Consistent improvement of the corporate governance system and enhancing its efficiency is part of our development strategy.

The existing corporate governance system is built in accordance with the statutory requirements of the laws of the Russian Federation; regulatory bodies; the rules of the MICEX, London, and Frankfurt stock exchanges; and the recommendations of the Basel Committee on Banking Supervision, the Financial Sustainability Council to financial institutions, and the Code of Corporate Management of Bank of Russia.

Rating ISS

ISS is the world’s leading consultant rendering advisory services to institutional investors related to corporate governance and socially responsible investments.

According to an ISS estimate, Sberbank’s corporate governance risks are at the minimal level (1 point on a 10-point scale). ISS assessed the structure of the SB, the remuneration principles of the SB and management, shareholders’ rights, and audit.

Sberbank’s corporate governance code and the Gruoup’s code of ethics are posted on sberbank’s corporate website.

Statement on compliance with the Corporate Governance Code

Being a public company whose securities are freely traded on the Moscow Stock Exchange, we followed the principles and recommendations of the Corporate Governance Code of Bank of Russia in 2015.

The Recommendations for the Preparation of the Report on Compliance with the Principles and Recommendations set forth in the Corporate Governance Code (appendix to Bank of Russia Letter No. IN-06-52/8 dated 17 February, 2016) were used as the methodology in accordance with which the Bank assessed its compliance with corporate governance principles.

Read the Report on Compliance with the Corporate Governance Code of Bank of Russia