Related Party Transactions

In accordance with Federal Law No. 208-FZ On Joint Stock Companies, the following persons shall be deemed to be related to a company (i.e. to have interest in the conclusion of a transaction by the company):

  • Members of the company’s board of directors (supervisory board);
  • Members of the company’s collective executive body;
  • A shareholder of the company who holds, together with affiliates, 20% or more of the voting rights in the company;
  • A person who performs the functions of a sole executive body of the company, including an organisation or an individual charged with management functions;
  • Other persons who have the right to give binding instructions to the company.

Throughout the reporting year, the Supervisory Board approved a number of related party transactions. Such transactions involved the issuance of loans and credit lines, borrowing, pledges and guarantees, direct debit agreements, involvement in participatory construction schemes, agreements with a stock exchange and a clearing chamber, the acquisition of additional shares issued by Sberbank’s subsidiaries, bilateral operating and services agreements with subsidiary banks and companies and agency agreements.

Sberbank entered into all related party transactions in the normal course of business in compliance with its Licence and Charter.

A complete list of all related party transactions entered into in 2011 is provided in the report prepared in accordance with Russian securities legislation and is available on the Bank’s website.


My Annual Report

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