![]() ![]() Following the dissolution of the USSR, the former republican savings banks became state savings banks of the newly independent post-Soviet states. Within the Savings bank of the USSR, separate savings banks were created in the Soviet Republics. As part of Perestroika reforms, in 1987 the savings bank outlets are reorganised into the Savings Bank of the USSR. īy late 1980s, the Soviet savings bank system had almost 80 thousand branches. The savings banks introduced wider services such as money transfers. The savings banks were used to distribute state lottery tickets and for the placement of state bonds with the population. From 1926, the saving bank outlets were used to pay wages to blue- and white-collar workers. Soviet savings banks system Īfter the October Revolution of 1917, the state savings banks system continued its activity and growth under the management of the Finance Ministry of the USSR as the State Labour Savings Banks System. In 1915, savings bank outlets started accepting government securities for depositing. After 1910, savings banks started subsidising credit cooperation institutions and extending loans to small lenders. Since 1905, savings bank outlets became authorised to sell insurance. By the end of the 19th century, the network reached almost 4 thousand outlets with over 2 million depositors. 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 Russian Empire. History Russian President Putin visits a Moscow branch of Sberbank, November 2001 Russian coin commemorating the establishment of the first savings banks in the Russian Empire in 1841. In the world ranking of public companies Forbes "Global 2000" Sberbank takes 51st place. As of 2014 it was the largest bank in Russia and Eastern Europe, and the third largest in Europe, ranked 60th in the world and first in central and Eastern Europe in The Banker 's Top 1000 World Banks ranking. The bank's rise since 1990s is in part due to its close connections to the Russian government. Sberbank has operations in several European nations, primarily post-Soviet countries.īy 2022, the bank accounted for about a third of all bank assets in Russia. It was called Sberbank of Russia until 2015 (currently: Sber). PJSC Sberbank ( Russian: Сбербанк, initially a contraction of Russian: сберегательный банк, romanized: sberegatelnyy bank, lit.'savings bank') is a Russian majority state-owned banking and financial services company headquartered in Moscow. Subsidiaries in some European and post-Soviet countries ![]()
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