The Banker Magazine has named Sberbank as its ‘Bank of the Year’ for 2012 in its annual Awards ceremony, reports today Sberbank in its official press release. In awarding Sberbank ‘Bank of the Year’ the Banker has recognized an outstanding year for the Bank, with its achievements including the well-received secondary public offering of $5.2bn and successful international expansion through acquisitions in Eastern Europe and Turkey.

Regarded as the industry standard for banking excellence, the Banker Awards are hotly contested by the world's leading financial institutions. Entrants are judged on their ability to deliver shareholder returns and to gain strategic advantage. The ‘Bank of the Year’ Award looks at the successes and achievements of the world’s top financial institutions and is given to a single bank in each year.

Sberbank was recognized for the leading role it plays in the Russian financial system and economy as well as achievement of its international strategic goals andresilience in the face of continued global volatility.

Anton Karamzin, Deputy Chairman of the Management Board of Sberbank, commenting on the award, said:  “We are honored to receive this award. Clearly the continued global volatility and market uncertainty were great challenges for all major international companies, especially banks. Despite this we have continued to grow our business both in Russia and internationally and enjoyed a highly successful secondary public offering in London. That Sberbank enjoyed such a strong year against the challenging global environment is testament to both our resilience and our potential.”