31.12.2015, 16:04
Over 22,000 Clients Have Opened Investment Accounts with Sberbank
OREANDA-NEWS. Sberbank has cemented its position as the leader of the individual investment accounts (IIA) business in 2015, commanding 28 per cent of the overall share of Russia's 75,000 accounts by the end of the year1.
More than 22,000 clients have made use of the bank's new product by opening an IIA after entering into a brokerage service agreement with Sberbank. 53 per cent of these accounts were opened by new customers. The rate at which new accounts are being opened has quadrupled since the beginning of the year to around 200 daily at present.
As part of its commitment to develop the IIA market, Sberbank regularly conducts familiarisation events across Russia, where potential customers can learn about these investment products. During the course of 2015, more than 100 events took place.
An IIA can be opened by any individual who is a Russian tax resident. It can be a new client or an existing client who has signed a brokerage service agreement or an asset management agreement. Up to 400,000 roubles per calendar year can be transferred to this account. Funds are invested in an IIA for a minimum of three years after the account opening date. These funds can be used to invest in equities, bonds and other financial instruments. Only one IIA can be opened per person.
Private investors can increase the profitability of their investments thanks to special tax rebates: either through a tax rebate worth 13% of the amount transferred to the IIA or by receiving an exemption from paying income tax on the profit generated by the account.
IIA is a convenient investment tool. Similar products have proved to be popular in the UK, US, Canada, India, and Japan. International experience was taken into account when adapting this new product to the Russian financial market.
More than 22,000 clients have made use of the bank's new product by opening an IIA after entering into a brokerage service agreement with Sberbank. 53 per cent of these accounts were opened by new customers. The rate at which new accounts are being opened has quadrupled since the beginning of the year to around 200 daily at present.
As part of its commitment to develop the IIA market, Sberbank regularly conducts familiarisation events across Russia, where potential customers can learn about these investment products. During the course of 2015, more than 100 events took place.
An IIA can be opened by any individual who is a Russian tax resident. It can be a new client or an existing client who has signed a brokerage service agreement or an asset management agreement. Up to 400,000 roubles per calendar year can be transferred to this account. Funds are invested in an IIA for a minimum of three years after the account opening date. These funds can be used to invest in equities, bonds and other financial instruments. Only one IIA can be opened per person.
Private investors can increase the profitability of their investments thanks to special tax rebates: either through a tax rebate worth 13% of the amount transferred to the IIA or by receiving an exemption from paying income tax on the profit generated by the account.
IIA is a convenient investment tool. Similar products have proved to be popular in the UK, US, Canada, India, and Japan. International experience was taken into account when adapting this new product to the Russian financial market.
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