Sberbank launches physical commodities trading company in Switzerland

Maria Nikolova

Sber Trading Swiss AG will focus on physical commodities trading in oil and oil products, coal, base metals, bulk and agriculture.

Development of Financial Passport across all sectors

Sberbank Rossii PAO (MCX:SBER) today announces the opening of its trading company in Zug, Switzerland, thereby expanding its presence in commodities markets.

The new entity – Sber Trading Swiss AG, is set to become the main hub of Sberbank’s international physical commodity trading. Sber Trading Swiss AG will focus on international physical commodity trading in oil and oil products, coal, base metals, bulk and agriculture products.

The opening of the office in Zug is a key addition to the existing physical Commodity trading infrastructure in precious metals (PAO Sberbank), and the local physical trading house (OOO SB Commodities Trading).

The company’s strategy is to build on existing customer relationship between Sberbank and commodity producers and consumers in Russia and the CIS. It will allow Sberbank Group to scale up and diversify its presence in physical commodities markets.

Sber Trading Swiss AG’s offering to its clients includes:

  • International purchase and sale of physical commodities, including storage, transportation and distribution;
  • International commodity financing through prepayment and deferred payment structures;
  • Monetization of reserves (Commodity REPO) for oil and crude oil products, base metals, bulk and agricultural products.

Denis Lunin was appointed as CEO of the company. Previously, Mr Lunin was responsible for physical commodities and fixed income business development in a number of Russian and international banks.

Anatoly Popov, Deputy Chairman of the Executive Board of Sberbank, commented:

“By opening our own International trading company we have moved to a new level in physical commodity trading. We expect Sber Trading Swiss AG to strengthen our position as one of the largest providers of solutions for our clients in international and local commodity trading, structural financing and strategic hedging. The company will focus on international trading in oil and oil products, coal, base metals, bulk and agricultural products. We are planning to work primarily with the Sberbank clients, producers and consumers of raw materials in Russia and the CIS countries, and expect the first transactions to be conducted in the third quarter of this year”.

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