Sberbank of Russia and American Express today announced that Sberbank will become an American Express card-issuing partner in Russia. By early 2011, Sberbank will begin to issue premium and super-premium cards, which will be issued in Russian Roubles, Euros and U.S. Dollars and feature both Sberbank's logo and American Express' Blue Box logo on the front of the cards. These cards will provide new, compelling benefits for Russian consumers and will be designed to meet the needs of Sberbank's customers in its mass-affluent and VIP segments.
"We are very pleased to partner with American Express to issue these new cards," said Alexander Torbakhov, Deputy Chairman of the Board, Sberbank. "As the leading retail bank in Russia, our partnership with American Express and its truly prestigious, global brand promises to be a win-win for both of our organizations and, most importantly, for our customers. This agreement allows us to further broaden our range of card products and provide our customers with access to unique and innovative card services with internationally acclaimed benefits and privileges."
"Our alliance with Sberbank marks yet another significant step in American Express' partnership strategy in Russia," said Pascal Guignard, Vice President and General Manager, American Express Global Network Services. "The new card-issuing partnership with Sberbank will give us the opportunity to further extend American Express' presence in the market and provide high-quality, premium products to an even greater group of customers in Russia. This latest alliance also represents another important move forward in our global network strategy, which is of increasing strategic importance to American Express."
As part of the partnership agreement, Sberbank will issue the American Express-branded cards and be responsible for the customer service, marketing, credit and risk controls on these products.
Sberbank of Russia (Sberbank) is the largest Bank in Russia, Central and Eastern Europe, with appoximately 30% of the total assets of the Russian banking system and around 240,000 employees. The Central Bank of the Russian Federation is the founder and the majority shareholder of Sberbank (over 60% of the voting shares), with the rest of the shares dispersed among more than 260,000 individuals and legal entities. The Bank has the most widespread branch network in Russia: 18 Regional Head Offices, over 20,000 branches and banking outlets, as well as subsidiaries in Kazakhstan, Belarus and Ukraine. The Bank holds the General License No. 1481, issued by the Central Bank of the Russian Federation. To learn more, go to www.sberbank.ru.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established 130 partnerships in 130 markets across the world. Learn more at www.americanexpress.com/gns.