OREANDA-NEWS. Global Finance magazine named Sberbank the best Russian bank among banks of Central and Eastern Europe.

This is the 24th annual research, a full report on the selections will appear in the May issue of the magazine. Winners were chosen in more than 150 countries across Africa, Asia-Pacific, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe. The May report will also feature selections for the Best US Regional Banks and the World’s Best Banks By Region.

Overall global winners will be announced in the summer and published in the October issue. The winners of this year’s awards are banks that attended carefully to their customers’ needs in difficult markets and accomplished better results while laying the foundations for future success.

All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting these top banks, Global Finance considered factors that range from the quantitative objective to the informed subjective. In addition, a poll of Global Finance’s corporate readership was conducted in order to increase the accuracy and reliability of the results.

Banks were invited to submit entries supporting their selection. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

“This year banks that demonstrate high-quality services and excellent business results that were recognised as the winners,” said CEO and Chairman of the Executive Board of Sberbank Herman Gref. “Our experience shows that financial results are directly dependent on the quality of services. I would like to underline that the client-oriented approach has always been the key priority for us.”

“Global Finance’s annual Best Bank Awards celebrate financial institutions that excel at delivering customers the services and products tailored to meet their unique needs,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “These banks may not be the biggest or oldest, but their energy and adaptability make them stand out in the field.”