Sber has positioned itself as a pioneer in the market by introducing a comprehensive debt-settlement approach that involves a debtor, all creditors, and a coordinated strategy. This milestone was highlighted by Alexander Vedyakhin, First Deputy Chairman of the Board of Directors at Sberbank, during the session titled “Mediation: from the threat of bankruptcy to financial reconciliation,” at the Financial Congress hosted by the Bank of Russia.
Vedyakhin emphasized that among the three pathways to resolve debt—bankruptcy, restructuring, and a coordinated settlement that may include mediation—the last option can be the most practical for clients in certain scenarios and can also yield favorable outcomes for creditors.
He noted that to date Sberbank has completed approximately 1,200 such settlements, with participation from other creditors. About nine-tenths of these transactions have resulted in borrowers meeting their agreed obligations, underscoring the viability of this method. While many applications initially sought reconfiguration, the market is gradually adopting the new approach and showing a clear shift in emphasis.
The growth potential of this market hinges on the digitization of services, a factor that could streamline processes, reduce processing times, and improve transparency for all parties involved.
At present, Sberbank works with ten partner banks to deliver a holistic solution. In this framework, Sberbank acts as an operator handling applications and coordinating actions among creditors. The Bank of Russia is contributing to the market’s development by issuing a standard that outlines the broad principles for these transactions, offering a common reference for market participants and reducing uncertainty.
Vedyakhin expressed support for decisions made within the complex resolution process to be binding, without requiring additional court approvals. He viewed this as a positive step that could accelerate settlements and provide greater predictability for all stakeholders.
He described the comprehensive settlement tool as a healthy and practical option. It gives banks a clearer view of their financial results, helps secure better returns, and, crucially, benefits clients by improving their chances of returning to a regular payment schedule. In this arrangement, the interests of all financial institutions involved in the recovery process are taken into account, and the client gains steady, sustainable prospects for debt repayment.
In addition to the financial and procedural benefits, the emphasis remains on safeguarding customer data. Ensuring robust data security is treated as a fundamental priority by the bank, reinforcing trust and reinforcing the stability of the settlement ecosystem.