Sberbank (Savings Bank of the Russian Federation)

Consolidated Statements of Financial Position

Note 31 December
2008
in milions of Russian Roubles
ASSETS
Cash and cash equivalents
Mandatory cash balances with the Bank of Russia
Trading securities
Other securities at fair value through profit or loss
Due from other banks
Loans and advances to customers
Investment securitites available for sale
Deferred income tax asset
Other assets

TOTAL ASSETS

LIABILITES
Due to other banks
Deposits from individuals
Customer accounts
Debt securitites in issue
Other borrowed funds
Deffered income tax liability
Other liability
Subordinated debt

TOTAL LIABILITY

EQUITY
Share capital
Share premium
Revaluation reserve for premises
Fair value reserve for investment securities available for sale
Foreign currency translation reserve
Retained earnings
TOTAL EQUITY

TOTAL LIABILITIES AND EQUITY

Approved for issue and signed on behalf of the Board on 6 April 2009.

Herman Gref Andrey Kruzhalov

Chairman of the Board and CEO Chief Accountant

The notes set out on pages 5 to 85 are form an integral part of these consolidated financial statements.
`31December
2007
ial statements.
Sberbank (Savings Bank of the Russian Federation)
Consolidated Statements of Comprehensive Income

in milions of Russian Roubles Note 2008

Net interest income

Provision for loan impairment

Net interest income after provision for loan impairment

Fee and commission income
Fee and commission expense
(Losses, net of gains)/gains less losses arising from trading
securities
Losses, net of gains arising from investment securities at fair value
through profit of loss
Gains less losses arising from investment securities available
for sale
Impairment of investment securities available for sale
Gains arising from disposal of investment securities held to
maturity
Gains less losses arising from trading in foreign currencies,
operations with foreign currency derivatives and foreign
exchange translation gains less losses
(Losses, net of gains)/gains less losses arising from
operations with precious metals and precious metals
derivatives
Other operating income

Operating income
Administrative and operating expenses
Other operating expenses

Profit before tax

Income tax expense

PROFIT FOR THE YEAR

Other comprehensive income

Gains on remeasurement of premises
(Losses)/gains on investments securities available for sale
Foreign currency translation gains less losses
Deferred income tax relating to components of other
comprehensive income

Other comprehensive income for the year, net of tax

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

Earnings per ordinary share, basic and diluted

(expressed in RR per share)

The notes set out on pages 5 to 85 form an integral part of these consolidated financial statements.
2007
Sberbank (Savings Bank of the Russian Federation)
Consolidated Statement of Changes in Equity

Note Share Share RevaluationFair value Foreign

capital premium reserve for reserve for currency
premises investment translation
securities reserve
in milions of Russian available
Roubles for sale

Balance as at 1 January
2007

Changes in equity for

2007
Issue of ordinary shares
Dividents declared
Total comprehensive
income recognised for
2007

Balance as at
31 December 2007

Changes in equity for

2008
Dividents declared
Total comprehensive
income recognised for
2008

Balance as at
31 December 2008
The notes set out on pages 5 to 85 form an integral part of these consolidated financial statements.
 Retain Total
earnings equity
translation
Sberbank (Savings Bank of the Russian Federation)
Consolidated Statement of Cash Flows

in milions of Russian Roubles Note 2008

Cash flows from operating activities
Interest received
Interest paid
Fees and commissions received
Fees and commissions paid
(Losses incurred)/ gains received from trading securities
(Losses incurred)/ gains received from other securities at fair value through
profit and loss
Income received from trading in foreign currencies and from operations with
foreign currency derivatives
(Losses incurred)/ gains received from operations with precious metals and
precious metals derivatives
Other operating income received
Administrative and other operating expenses paid
Income tax paid

Cash flows from operating activities before changes in operating assets

and liabilities

Changes in operating assets and liabilites

Net decrease in mandatory cash balances with the Bank of Russia
Net decrease/ (increase) in trading securities.
Net decrease/ (increase) in securities at fair value through profit or loss
Not decrease in due from other banks
Net increase in loans and advances to customers
Net increase in other assets
Net increase in due to other banks
Net increase in deposits from individuals
Net increase in customer accounts
Net (decrease)/increase in debt securities in issue
Net increase in other liabilites

Net cash from / (used in) operating activities

Cash flows from investng activities

Purchase of investment securities available for sale
Proceeds from disposals and redumption of investment securities available for
sale
Proceeds from disposals of investments securities held to maturity
Acquisition of premises and equipment
Proceeds from disposals of premises and quipment including insurance
payments
Investments in subsidiaries
Divident income recived

Net cash used in investing activities

Cash flow from financing activities

Issue of ordinary shares
Other borrowed funds received.
2007