Sberbank has summarised the performance of its retail business in 2018. Stable growth was achieved in all key areas thanks to increasing the focus on the quality of customer experience and enhancing digital service channels, the bank’s web page reported.
The number of active retail clients of Sberbank increased by 8% in 2018 and now stands at almost 93 million. In 2018, the portfolio of loans to individuals grew by a record 25.3% year-on-year to exceed RUR 6.2 tln. The portfolio of mortgage loans grew by 25% over the year to exceed RUR 3.6 tln. The credit card portfolio grew by 15% to RUR 634 bln, whilst the consumer loan portfolio grew by 30% to RUR 1.9 tln as of the end of 2018.
The deposit portfolio of Sberbank’s retail clients grew by 7% in 2018 to RUR 12.8 tln. Annual growth of term deposits was 5%; sight deposits grew by 15%.
The number of active users of Sberbank’s digital service channels (mobile application and the internet) grew to 60 million in 2018, which is a 28% increase compared to 2017. Today, two thirds of clients actively use the Sberbank Online ecosystem of digital products and services. The share of products sold via digital channels in 2018 grew to 37%.
Over the year, sales of debits cards via Sberbank Online grew threefold, to 20% of all debit cards. Use of the card blocking function doubled. In March 2019, Sberbank presented a service that lets clients change their PIN code in Sberbank Online. It is expected that this will also contribute to increased use of the bank’s digital ecosystem.