CEO German Gref explains new Sberbank logo

MOSCOW, Sep 24 (PRIME) -- The new “Sber” logo of Russia’s top bank Sberbank means evolution of the banking group into a “universe of services” aimed at solving the client’s tasks, and the cost of rebranding will amount to 2.5 billion rubles within five to six years, CEO German Gref said at a presentation on Thursday.

“We have taken for our new corporate logo the most important thing – the V mark – from our banking legacy. It is a symbol of motivation and orientation to being useful for people, and our circle is a symbol of focus on people’s needs and creation of comfort and opportunities for them,” he said.

First Deputy CEO Lev Khasis told reporters that Sberbank hopes to obtain around 20–30% of its profit from non-banking services in the foreseeable future.

“In the long-term, we believe that non-banking services should account for a substantial share of the profit and influence the company’s capitalization significantly. We think that in the long-term, but still in the foreseeable outlook, we would like to receive 20% or 30% of income from non-banking products and services,” he said.

Khasis also said that Sberbank will present a new strategy for 2021–2023 in November.

(76.3545 rubles – U.S. $1)

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