Sberbank and Polymetal Group signed a strategic cooperation agreement at the 21st Saint Petersburg International Economic Forum. The document was signed by Senior Vice President of Sberbank and Head of Sberbank CIB Igor Bulantsev and CEO of Polymetal Vitaly Nesis.
Sberbank and Polymetal intend to develop a long-term, mutually beneficial strategic partnership. The agreement establishes general principles and procedure for interacting. Taking into account the current level and volume of operations, the parties expressed interest in the continuing development and strengthening of cooperation.
“Polymetal Group is one of the most efficient gold-mining companies in the world and a long-time partner,” commented Igor Bulantsev. “We highly regard our joint projects, and this agreement will help develop cooperation. When working with leading global corporations, we are always ready to provide first class professional service coupled with the most flexible financial solutions.”
CEO of Polymetal Vitaly Nesis commented: “We are very pleased that our extensive and productive relationship with Sberbank will be further strengthened, and hope that the signing of this agreement will pave the way for new joint projects in several areas of banking.”
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Polymetal is one of the world’s leading silver producers and one of Russia’s three largest gold mining companies. Polymetal operates in several Russian regions (the Magadan, Sverdlovsk, Khabarovsk, and Chukotka Regions), and also in Kazakhstan and Armenia.
Polymetal independently carries out a complete set of work to develop ore deposits – from geological exploration to operation. A key element of the strategy is the creation of processing centres (hubs), which allow for the most effective and responsible use of financial and human resources, contribute to achieving higher returns on invested capital.
The company’s official site is www.polymetal.ru.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. 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, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 22 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB1 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.
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