The Central Bank of the Russian Federation, also known as The Bank of Russia, is a majority shareholder of Sberbank, owning nearly 64% of its ordinary shares.
Sberbank remains the largest bank in Russia and Central and Eastern Europe in terms of Tier I capital and assets.
Sberbank is the leading universal commercial bank in Russia and continues to provide a full range of banking services.
In addition, Sberbank became the first Russian bank to be included in the first hundred of the Top 1000 world banks ratings produced by the highly respected English magazine The Banker.
Sberbank is the successor to the savings division of the Soviet central bank, which in turn traces its roots back to a network of private savings institutions that was created by tsarist decree in 1841.
Sberbank was saddled with some unprofitable operations, such as the processing of payments for public utilities and the operation of branches in provinces that were served by no other bank.
Sberbank was also remodeling some of its branches in marble and glass in order to dispel their reputation for dinginess.
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