Sber Bank

Sber Bank is a Russian majority state-owned banking and financial services company with head office in Moscow. Formerly the savings bank of Russia, and the biggest bank of Russia and now it does Treasury Operations, Private banking, Private equity, Bank Guarantees, Asset Management, Recurring and Fixed Deposits, Industrial finance, Personalised banking, Email alerts, Retail Banking, Stocks and Shares and the Wealth Management.

Factsheet of Sber Bank

Bank Name	Sber Bank
Founded in	March 22, 1991
Promoters/founders	Soviet Government
Headquarter Address	Sberbank 19 Vavilova Street Moscow 117312 Russia
Employee's	281000
Type of Bank	Public Sector Undertaking (PSU) Bank
Official Website	https://www.sberbank.ru/
Customer Care Number	8-495-500-5550 and 8-800-5555550

History of Sberbank

The Sberbank is a powerful banking establishment headquartered in Moscow and till 2 years ago it was called as Sberbank of Russia. After this it began to be known as Sber bank. The bank is controlled and governed by the Russian Government and it is the largest bank in Europe and Russia, and furthermore in the world it holds 60th place. In the earlier stages savings banks were used to distribute state lottery tickets and for the placement of state bonds with the population. During the late 1980 there was banking under the USSR and they had more than 8000 branches and after the dawn of Perestroika, the banks under the control of USSR began to be known as Savings Bank of the USSR.

Furthermore, the separate banks located in other socialist republics under USSR, after its partition in 1991 they became the state sponsored savings bank of the USSR. After the creation of Russia, Sberbank is the largest universal bank in the nation after heavy competition from Private and other state sponsored commercial banks.

After sometime, in 2011 Sberbank acquired the Volksbank International AG from the shareholders, in Czech Republic, Slovenia, Ukraine, Bosnia and Herzegovina. In 2012 Sberbank also brought the Turkish Denizbank from the Denia group that was under the regulatory control of France,Luxembourg and Belgium. At present due to the Russia Ukraine war going on since February 2022 most of the financial institutions of Europe, is not doing any transactions with the Sberbank. We have more than 16000 branches at present in the world.

Mr. Herman Gref an economist and businessman and a very close friend of Russian President Mr. Vladimir Putin is the Chairman and CEO of the Sberbank of Russia.

Subsidiaries of Sberbank

Some of the subsidiaries of the Sberbank are given below as follows:

SberTech.
Sberbank CIB

Banking Services offered by Sberbank

There are various banking services offered by the Sberbank and they are given below:

Treasury.
Net Banking.
Kids Account.
E-Commerce.
E-Statements.
Online Security.
Mobile Banking.
Export Finance.
Custody Service.
Security Service.
Savings Account.
Foreign Exchange.
Account for Elderly.
Commodity Finance.
Corporate Accounts.
Transaction Banking.
Sustainable Banking
Asset Managements.
Deposit Guarantees.
Wealth Management.
Debt Capital Markets.
Private Capital Services.
Individual Bank Account.
Debit and Credit Card Services.
Advance Payments Bank Guarantees.
Corporate salaries of different Hospitals and Organisation.

Loans and credit facilities provided by Sberbank

There are various loans and credit services offered by the Sberbank and they are:

Term Loan.
Vehicle Loan.
Housing Loan.
Property Loan.
Personal Loan.
Business Loan.
Mortgage Loan.
Consumer Loan.
Financial loan for Importers and Exporters.
Professional Loans for Software Engineers,Doctors and others.

Legal Issues

There are various legal issues associated with the Sberbank and they are as follows:

Court of Ukraine sued the Sberank for carrying out terrorist activities and sberbank was asked to pay some amount to the Ukrainian Court.
There was a tax fraud in Hermitage Capital Management Case in Russia, and represented by Mrs.Natalya Vesselnitskaya, was asked to pay 7 million dollars to resolve the issue without any charges and this led to all the charges dropped.
Sergey P. Poymanov a Russian businessman sued Sberbank for illegally taking control of his quarry in 2012 during a raid. Effective court settlements to 75 million dollars.

Awards and Recognition

Sberbank was recognised for the top execution bank in Russia based on the results of the ‘2011 Trusted Bank.
Sberbank was awarded the was the winner in the ‘Best Corporate Style’ category of the rating by The Banker Magazine.
Sberbank was named the best public servicing bank in Russia based on the results of the ‘Bank of the Year’ competition by The Banker Magazine.
Sberbank was awarded Effie Awards in the ‘Banking, Financial and Insurance Services’ category in recognition of the ‘1% Instant Money Transfer’ marketing campaign, that became a run away hit.

Sber Bank has 1 IFSC connected branches in India. Bank has branches in following states: