14 Facts About Sberbank

Sberbank has operations in several European nations, primarily post-Soviet countries.

Sberbank's history goes back to Cancrin's financial reform of 1841, when a network of the first state-owned savings banks was created in Russia.

In post-Soviet Russia, Sberbank is the largest universal bank despite growing competition from private and other state-owned commercial banks.

Since 2007, Sberbank is led by former economy minister Herman Gref who is a very close friend of Vladimir Putin.

In 2011, Sberbank acquired Volksbank International AG from its shareholders Osterreichische Volksbanken AG, BPCE, DZ Bank and WGZ Bank.

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In December 2017, due to sanctions, Sberbank sold its Ukrainian subsidiary, VS Bank to Ukrainian businessman Serhiy Tihipko.

On 28 February 2022, Sberbank Europe was facing bankruptcy as a consequence of the sanctions.

Two days later, Sberbank Europe declared that it was leaving the European market.

Sberbank decided to become "more than a bank" and began to develop various services, mainly digital: online cinema, music, food delivery, cloud storage, taxi .

Sberbank is the successor of Soviet Saving Banks, whose assets belonged to the state.

However, until 2003 this only applied to state-owned banks such as Sberbank, giving them an unfair advantage over fully private banks.

In subsequent years, Sberbank introduced new services and improved the quality of some of its existing ones.

Sberbank was charged with alleged embezzlement of company's money amounting to almost 1 billion rubles as a part of Bankruptcy fraud.

On 13 December 2017, Sberbank sold another subsidiary, VS Bank, to a Ukrainian banker, former PrivatBank chairman Serhiy Tihipko.