Sberbank CIB News

Sberbank CIB robotises creation of loan agreements

  • Sberbank has launched a pilot project to robotise the creation of loan agreements concluded with the bank’s major corporate clients.
  • A software-based robot will cut the time required to put together loan agreements at Sberbank by 2.5-fold.
  • By 1 September 2018 the algorithm will be used to process industrial data.
  • In the future, the project may be deployed to create loan agreements for clients of the large and medium-sized business segment.

Sberbank CIB1, the corporate and investment banking business of Sberbank, has launched a project that automates the drawing up of loan agreements with major corporate clients. Initially the project will be carried out within Sberbank CIB. By 1 September 2018 the algorithm will be used on industrial data.

The software-based robot with the working name iCredo optimises Sberbank CIB employees’ work on loan agreements with major clients. This is a joint project of Sberbank CIB (Development Department and Loans Department), the CIB Support Centre of the Technology Block, and Sberbank’s Robotic Process Automation Laboratory.

iCredo will cut the time required to put together loan agreements at Sberbank by 2.5-fold, whilst minimising human factor errors. As a result, the bank’s operating costs will be optimised.

Senior Vice President of Sberbank and Head of Sberbank CIB Igor Bulantsev commented: “The automation of routine business processes lets the bank’s employees concentrate on individual work with clients. iCredo is currently being used to draw up loan agreements for Sberbank CIB’s largest corporate clients, but in the future we plan to deploy it in work with large and medium-sized business.”

Robotic process automation (RPA) increases the efficiency of operations thanks to algorithms that perform standard tasks. Sberbank uses this technology to open accounts for legal entities, issue consumer loans, and process writs of execution and employees’ holiday leave requests. Thanks to RPA the bank has already saved 75,000 labour hours.

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 20 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.

The Bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: (Sberbank Group website),

Sberbank CIB

Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.

1 On the basis of JSC “Sberbank CIB” and Sberbank.
2 Banking products and services provided by Sberbank.