Glavkosmos and Sberbank signed a cooperation agreement

August 28, 2019

At the International Aviation and Space Salon MAKS-2019 on August 28, 2019, Glavkosmos and Sberbank concluded a cooperation agreement to enhance the efficiency of the companies’ current activities. The document was signed by Kirill Tsarev, Vice President and Director of the Mechanical Engineering Customer Service Department in Sberbank, and Dmitry Loskutov, Glavkosmos Director General.

The parties are considering the cooperation in areas of mutual interest: digital transformation, introduction of Sberbank Group ecosystem products, joint projects for production of civilian products; exchange of experience in the relevant fields through the participation of representatives in seminars, conferences, business forums and other events, development of cooperation regarding the organization of financing and joint support of projects on competitive terms.

Kirill Tsarev, Vice President and Director of the Mechanical Engineering Customer Service Department in Sberbank:

“We are really very happy to work with the legendary Glavkosmos company. The signing of this agreement means the development of mutually beneficial cooperation on a long-term basis to enhance the efficiency of our activities”.

Dmitry Loskutov, Glavkosmos Director General:

“The space industry has always been at the forefront of technological progress. The largest state bank in the country, Sberbank, today is associated with the most relevant trends in the digital economy. Therefore, the joint work of technological flagships is an expected and logical step. I am sure that our cooperation will not only be mutually beneficial, but will also serve as a signal to foreign partners to intensify joint projects”.

In the framework of the agreement, Sberbank intends to work out issues of joint and syndicated financing of projects aimed at creating civilian products, including involvement of subsidiaries or affiliated companies, foreign credit entities and export agencies.

PJSC Sberbank is the largest bank in Russia and a leading international financial institution. Sberbank accounts for one third of the assets of the entire Russian banking system. Sberbank is a key credit grantor for the national economy and holds the largest share in the deposit market. The founder and major shareholder of Sberbank is the Central Bank of the Russian Federation, which owns 50% of the authorized capital plus one voting share. Another 50% of the Bank’s shares are owned by Russian and international investors. More than 97.8 million active customers in 21 countries use the services of Sberbank. The Bank has the largest branch network in Russia: about 15 thousand service outlets. The bank’s international network is made up of subsidiaries, branches and representative offices in the UK, US, CIS, Central and Eastern Europe, India, China and other countries. General banking licence No. 1481.

JSC Glavkosmos is a daughter company of the State Space Corporation ROSCOSMOS. The key objectives of the company are the promotion of Russian space industry achievements to the world market and management of complex international projects. For the more than thirty-year history of the company, over 120 international contracts have been successfully fulfilled, including launching of more than 140 satellites as secondary payload.