Russian bank Sberbank’s predecessor was the Savings Offices set up by Tsar Nicholas I, which then became the USSR’s State Labor Savings Offices. Although listed, it is still majority-owned by the Russian state. Sberbank’s main operations are in retail and commercial banking. Despite western sanctions since Russia’s invasion of Ukraine, which isolated the bank from global finance and payment systems, it has successfully capitalized on buoyant domestic demand. Sberbank is based in Moscow.
Maxim ShemetovReuters