Improving Loan Service Quality

Service quality depends on many factors, including the transparency and openness of the Bank’s approaches. We disclose information about the full costs of our retail loan products to customers on Sberbank’s website, at our outlets and before signing a loan agreement. This information takes into account the tentative loan repayment schedule, the terms and conditions of the loan agreement and other borrower costs.

We ensure the quality of our loan products by promptly reviewing loan applications, respecting our customers’ time and recognising that processing time is an important component in overall service quality that contributes to the Bank’s competitiveness. In order to reduce turnaround time for retail loans and improve the quality of loan products, the Bank introduced the Loan Factory, a state-of-the-art technology to process loan applications. This helped us centralise, streamline and standardise application assessment processes, thus achieving a significant reduction in turnaround time for all retail loans.

As a result, the average turnaround time decreased from 1.5 days in 2010 to 1.2 days in 2011.

Main topics of interest to borrowers and the Bank’s response

Main topics of interest to borrowers Bank’s response
Partial and full early repayment procedures Removed limitations on early repayment amounts and abolished the moratorium period during which early repayment was not permitted
Loans for young people Introduced special loan offerings for customers aged between 18 and 21
Special lending terms for pensioners Introduced lower interest rates for pensioners
Using Sberbank deposits as proof of repayment ability Introduced, as part of the Bank’s mortgage programmes, a special procedure through which borrowers with current accounts at the Bank can prove their ability to repay loans
Residence registration requirements for borrowers Residence registration requirements for borrowers relaxed when applying for loans in the Central Federal District

In 2012, we plan to continue simplifying early repayment procedures and replicating our pilot project to loosen residence registration requirements for borrowers. We are also exploring the possibility of submitting loan applications through remote service channels, since customers also raised this topic in their dialogue with the Bank.

    History

My Annual Report

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