Sber finances more than 54% of Russian exports and 33% of the country’s imports. Clients involved in foreign economic activity (FEA) received more than 7 trillion rubles of credit support from Sberbank. Sberbank Deputy Chairman of the Board of Directors Anatoly Popov announced this at the “Financial Market for the Real Sector” session held within the scope of the “Made in Russia” International Export Forum.
According to the company’s top manager, Sber is a leader among Russian banks in terms of the amount of support provided to foreign economic activity under state programs. The total amount of funds for state programs is 450 billion rubles. In particular, Sber’s share in supporting priority imports exceeds 50%, and in some product categories (e.g. vital medical products) the bank finances more than 95% of the country’s imports.
“Sber is ready to support Russian trade in all areas of foreign economic activity. Ultimately, the success of our customers’ businesses is our top priority.
Currently, there are three main areas of work in foreign economic activities – China, India and Turkey. “It is these countries that continue fruitful cooperation with Russia in the current era of turbulence,” Popov said, adding that Sber is actively working with these states.
The deputy chairman of the board of directors of Sberbank expressed his confidence that the task of the state and the entire financial sector of the country is to ensure the safety, reliability and security of all participants in foreign trade activities.
He also pointed out that banks’ priorities have changed dramatically.
“Previously, one of the main functions of the banking community was to provide the link between international and domestic capital in terms of funding, now banks themselves have become the source of capital raising for industrial enterprises. “At the same time, the main task of banks now is to rapidly increase correspondent relations in national currencies as an alternative to the previously dominant payment model in dollars and euros,” he said.
Popov pointed out that new challenges require the need for new solutions in financing customers, maintaining a sustainable payment infrastructure and investing in strategic projects.
“Important foreign economic projects can only be implemented with a well-structured set of financial measures. “What will increase the country’s foreign economic potential is the cooperation and close interaction between banks and the real sector, exporters and importers,” he said.