Sberbank

About Sberbank

Sberbank, founded in 1841 as a savings bank of the Russian Empire, is the largest bank in Russia. The Soviet Union maintained Sberbank as the state savings bank, where citizens kept deposits. After the Soviet collapse, Sberbank was privatized but the Central Bank of Russia remained the majority shareholder. Sberbank pioneered banking technology in Russia, launching ATMs, online banking, and mobile apps. The bank grew to serve over 100 million customers. Western sanctions in 2022 cut Sberbank off from SWIFT and international capital markets. The bank has pivoted to domestic operations and partnerships with Chinese financial institutions. Sberbank remains the dominant financial institution in Russia despite international isolation.