Sberbank (The Savings Bank of Russia) headquarters in Moscow
Photo: Dmitry Dukhanin
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Sberbank Leads in Internet Trading
The Savings Bank of Russia (Sberbank) is the leading Russian bank for Internet transaction, according to Vedomosti newspaper. It has 160,000 registered clients, the most in Russia, although it ranks only third by active accounts. The bank is not even in the top ten for trades on the MICEX stock exchange, however. Previously, the bank had announced that it would make online trading available to its clients only in 2009.
Head of the Sberbank treasury department Andrey Golikov stated that the number of the bank’s clients has increased by 3000 per month for the last four years. There was a particularly rapid influx of clients during the Rosneft IPO, when the number of clients increased by 8000. After that, the bank spent a year developing new software, which cost $200,000-300,000.
Currently the bank provides access only to MICEX, but it will eventually work with the RTS futures and options market as well. More than 500 companies throughout Russia are able to connect to Sberbank online trading services.
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