24 Sep 2020 13:53

Sberbank presents new brand Sber, estimates costs for its introduction at 2.5 bln rubles in 5-6 years

MOSCOW. Sept 24 (Interfax) - Sberbank Russia has switched to the new brand "Sber," the bank's head Herman Gref said during an online conference on Thursday.

"We tentatively estimate out additional expenses, apart from our usual activity, for introduction of the new brand at a total of around 2.5 billion rubles over 5-6 years," the bank said in a press release regarding the new brand.

The bank earlier started using the Sber brand for a number of its informational materials.

"The umbrella brand of the ecosystem presented today was earlier successfully applied in such services as SberMarket, SberCloud, SberAuto, SberHealth, SberLogistics, and SberFood and was warmly received by clients," the press release said.

The bank has additionally replaced its classic logo with a green, white, and blue logo with a tick inside a circle. During the presentation, Gref said that this symbol signified focus on determination and on people.

Gref spoke about plans of a possible move to the Sber brand in 2018. He said at the time that the word "bank" must be present in the financial part of Sberbank according to law, but the brand Sber could be used in the ecosystem.