The bank for a changing world

Sberbank and BNP Paribas Personal Finance have agreed to expand the activity of their joint venture after its good performances in the Russian car financing market

  • 18.07.2013

Sberbank has strengthened its strategic positions in the car loan market by transferring its car loan business, generated through partnerships with car manufacturers and car dealers, to Cetelem Bank.

Cetelem Bank is a joint point-of-sale finance bank of Sberbank and BNP Paribas Personal Finance, the consumer lending division of the BNP Paribas Group. The bank is operating in the Russian consumer and car loan market and specializes in point-of-sale lending – retail stores and auto dealers.

The transfer is a part of a large-scale internal reorganization within Sberbank Group. Sberbank will continue issuing car personal loans at its branches and the car loan partnership programs with car manufacturers and car dealers will be transferred from Sberbank to Cetelem Bank. This specialization is part of the bank's retail strategy and will allow Sberbank Group to upgrade its presence in the car loan market, an important market for Sberbank.

Cetelem Bank is the best vehicle for Sberbank's ambitious growth plans. It specializes in point-of-sale lending and successfully combines experience in the Russian market with the innovative technologies of BNP Paribas Personal Finance. For its first ten months of operation, the joint bank showed solid results: it more than doubled its POS outstanding and multiplied almost by 4 its personal car loan outstanding. In accordance with the terms of the transaction, Sberbank will increase its stake in Cetelem Bank in 2013 from 70% up to 74% leaving the governance unchanged. After three years, Sberbank has an option to increase its stake in the Cetelem Bank up to 80%.

The switch from Sberbank to Cetelem Bank will be done by the end of this year and executed smoothly in order to respect the partners' and clients' interests. The car loan partnership programs transferred to the Cetelem Bank platform will increase Sberbank Group's share in the car loan market. All partners and clients will receive guaranteed quality services from Cetelem Bank.

Denis Bugrov, Member of the Board, Senior Vice President, Sberbank: “The current market share of Sberbank Group in the car loan market is about 13.9%. We plan that with the transfers of the car loan partnership programs to Cetelem Bank, Sberbank will increase this figure considerably. The transfer will support credit sales, one of the main drivers for the Russian car market. This will make loans more accessible to the public and will increase not only the share of cars sold on credit in Russia, but also the car market”.

Thierry Laborde, CEO of BNP Paribas Personal Finance: “By transferring all Sberbank's POS car loan activity to Cetelem Bank, the business portfolio of the JV will significantly grow compared to what was initially planned. This strategic project will deliver additional revenue in the next 5 years to BNP Paribas Personal Finance in Russia. This new development is the testimony of BNP Paribas Personal Finance's know-how in finance on the point of sale and partnership with distributors and shows the satisfaction and trust shared by both shareholders about Cetelem.”

Andrey Lykov, CEO, Cetelem Bank Llc: “Cetelem Bank has clear advantages in the car loan market. We operate on a modern instant credit decision technology in the dealership. Our clients get best in class services including simple and transparent client products and comprehensive consulting as well as a wide range of repayment channels. Our partners can rely on an individualized approach, diverse forms of cooperation in issuing car loans, tailor-made credit solutions and services”.




Sberbank of Russia is the largest bank in Russia and holds almost one-third of aggregate Russian banking sector assets. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share. The rest of the shares are held by international and domestic investors. More than 100 million individual customers bank with Sberbank and about 1 million of businesses. The Bank has the largest distribution network in Russia with more than 18,000 offices as well as subsidiaries in 20 countries including the CIS, Central and Eastern Europe and Turkey.
The Bank holds the general banking license No.1481 issued by the Bank of Russia.
The official website is www.sberbank.ru.

Cetelem Bank Llc offers a wide range of consumer lending products to its customers that includes personal loans, auto loans, credit cards and cash loans. Products are available in Cetelem Bank's points of sale – retail stores and auto dealers. Cetelem Bank is constantly expanding its geographical presence. Currently the bank operates across 67 regions of Russia with a workforce of over 5,500 employees.
The Bank holds license No. 2168 issued by the Bank of Russia.
The official website is www.cetelem.ru.

BNP Paribas Personal Finance is the leader in France and in Europe for personal loans via its activities in consumer credit and mortgage lending. A 100% subsidiary of the BNP Paribas Group, BNP Paribas Personal Finance has more than 16,000 employees and operates in over 20 countries.
Under brands including Cetelem, Findomestic, and AlphaCredit, the company offers a full range of personal credit products at points of sale and car dealerships and directly to consumers through its customer relations centers and the Internet. BNP Paribas Personal Finance has added an insurance and savings offering for its clients in France and in Italy.
BNP Paribas Personal Finance has developed an active partnership strategy with retailers, web merchants and financial institutions (banks and insurance companies), based on its experience with marketing credit offers and integrated services tailored to partners' business and commercial objectives. It is also a leading player in the field of responsible lending and financial education.
Press contact(s)
For further information:

Sberbank of Russia
Alexander Baziyan – tel. +7(495) 957 5721, media [at] sberbank (dot) ru

Cetelem Bank Llc
Marina Bondarenko – tel. +7 (926) 566 5907, marina.bondarenko [at] cetelem (dot) ru
BNP Paribas Personal Finance
Mathilde Donovan – tel. +33 1 46 39 15 88, mathilde.donovan [at] bnpparibas-pf (dot) com