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Sberbank and Troika Dialog merge into largest universal banking institution in Russia
23.01.2012 18:34
Sberbank and Troika Dialog merge into largest universal banking institution in Russia

On January 23 Sberbank of Russia and Troika Dialog announce the closure of the deal to merge the two companies. This landmark event signals the creation of the largest universal banking institution in Russia, says the official press release.

The integration of Troika Dialog will enable Sberbank to reach a new level of client service through high-quality financial consultation and a broad choice of investment strategies, underpinned by a full range of modern financial instruments – from the Bank’s traditional credit products to complex investment banking and global markets products. An undisputed regional market leader will emerge as a result of the merger of these two complementary businesses.

As part of the process of integrating Troika Dialog into the Sberbank structure, a new division is being created: the Corporate Investment Bank (CIB) which will provide services to the largest Russian and foreign corporations and financial institutes. CIB will become part of the business unit entitled “Corporate Business”.

The second area of business being created as a result of integration is Wealth Management. Wealth Management will include the business areas which focus on selling investment products to private clients, including Asset Management and Private Banking.

Herman Gref, CEO and Chairman of the Management Board of Sberbank of Russia, said that the company intends to become one of the top 15 global players in terms of debt securities, currency, and commodities operations in the next five years. By 2014 the company expect to double income from investment banking activity.

Author: Irina Fomina

Tags: Sberbank bank    

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