PJSC Sberbank history, company profile (overview) and corporate video
PJSC Sberbank is a banking and financial services company headquartered in Moscow, Russia.
HISTORY
SberBank is the historical successor of Savings Offices, which were established by the decree of Emperor Nicholas I, and later the State Labor Savings Offices.
SberBank’s origins date back to 1841 when the Russian Emperor Nikolai I ordered the formation of the first private savings bank branches in Russia “in order to make savings in a reliable and profitable way therethrough.”
In 1862, Alexander II adopted a new savings bank charter, mandating that such savings bank branches should be created nationwide. As a result, the offices grew from two small establishments featuring 20 employees in St. Petersburg and Moscow into a nationwide network.
In 1905, savings bank branches were authorized to sell insurance policies.
In 1919, savings bank branches were merged with the People’s Bank of the RSFSR.
In 1925, the network in its entirety was reorganized as USSR’s State Labor Savings Offices.
During World War II, savings bank branches helped finance military programs. Four military loans under the tagline “Everything for the front, everything for victory!” gather 15% of the country’s military expenses.
In 1987, the savings bank branches were reorganized into Savings Bank of the USSR under perestroika.
In 1988, SberBank launched its first ATM.
In 1989, the bank introduced new types of deposits: time deposits, deposits for youth and children, and savings accounts. It also launched currency exchange services for the first time.
In 1990–1991, Savings Bank was turned into a joint-stock bank.
In 2006, SberBank acquired a subsidiary bank in Kazakhstan.
During 2009–2016, the bank entered the market in Belarus and acquired assets of the former VS Bank in nine countries of Central and Eastern Europe.
PRODUCTS
- consumer banking;
- corporate banking;
- finance and insurance;
- investment banking;
- mortgage loans;
- private banking;
- private equity;
- savings;
- securities;
- asset management;
- wealth management;
- credit cards.
With more than 20,000 employees, PJSC Sberbank is considered one of Russia’s largest banks and one of the largest global financial groups. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.sberbank.com.
**Video published on YouTube by “CompaniesHistory“
