9 November 2018, Moscow

Sberbank is carrying out a dedicated programme to optimise its real estate portfolio in all regions of presence in order to increase the efficiency of business operations. This programme seeks to reduce operating costs, enhance employees' labour conditions, and cut the time spent travelling between offices.

Under the programme, Sberbank has decided to bring together the key divisions of its headquarters at a single location. In connection with this, a Sberbank subsidiary and International Centre JSC have signed a contract on the acquisition of an office complex on Kulneva Street, opposite Moscow City MIBC, with an area of over 300,000 square metres. The complex is made up of three buildings on a single land plot. The construction of two of the buildings (41-storey and 47-storey) is incomplete.

Sberbank Group employees currently work at more than 40 office facilities (both under ownership and leased) across Moscow. This project will help reduce real estate maintenance costs by freeing up more than 100,000 m²Â of office space, and significantly lower logistics expenses. In addition, coordinating work according to the principles of Agile requires interacting divisions to be located at a single venue. This means that the project will increase the efficiency of all project teams.

The decision was made in favour of the Kulneva Street complex due to its convenient location and highly developed infrastructure, favourable pricing, good transport access, the characteristics of the complex itself, and the fact that Sberbank Group's Agile Home office building is located nearby at 32 Kutuzovsky Avenue.

The bank has put together detailed strategies on how to use the real estate properties that will be freed up by the relocation, which include the possibility of selling or leasing on the open market the properties that it owns, and terminating lease contracts for the others.

Relocation to the new complex will take place in stages, with a completion date of late 2021.

Stanislav Kuznetsov, Deputy Chairman of the Executive Board of Sberbank:

"Over the last two years, our business processes have undergone significant change and we have transitioned to Agile. This new approach means that we have more demanding requirements in terms of productivity and efficiency, division interaction principles, and organising our workspace. Consolidation of the bank's team at a single location is fully in line with the task of creating the Sberbank ecosystem. Taking into account the fact that we already use the President Plaza and Poklonka Place business centres, the acquisition of this complex will allow us to create a unified HQ - a so-called Sberbank City - for more than 23,000 of our employees."

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