Individual savings accounts top € 1 bn at Sberbank Direct for the first time in three years

Jul 20, 2021

Sberbank Direct, a retail branch of Sberbank Europe in Germany attracting deposits from individuals and issuing general purpose loans online, has attracted EUR 1 bn in deposits for the first time in three years. The number of its clients went up by 12% in 1H21 to reach 73 thousand.

Launched in Germany in 2018 as part of Sberbank Direct and fully based on end-to-end technology, the online lending project is also seeing stable growth. Year-to-date, the online lending portfolio in Germany has increased by 26% exceeding EUR 510 mn.

Sberbank Direct has won first place at the FMH Zins-Award for the past several years, one of the leading direct banking awards in Germany.

The development of online banking, which is part of the global trend toward digitization, is a top priority for Sber on the international track. The sustained growth of Sberbank Direct's financial performance in the current market environment and high competition from local banks show that the Group has a significant potential in the local market.

Timur Kozintsev

Senior Vice President, Head of Sberbank International