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Friday, November 24, 2017

Sberbank shares account for one-third of Russian banking sector

Sberbank of Russia, the largest bank in Russia, announced this week that shares of its Savings Bank account for approximately one-third of all assets of the Russian banking sector.

The Central Bank of the Russian Federation is a majority shareholder of Sberbank, owning 50 percent of the share capital plus one voting share.

The other 50 percent of outstanding shares is dispersed among portfolio, private and other investors, with an estimated shareholding of approximately 20 percent by foreigners.

Sberbank's savings services are used by more than 110 million individuals and approximately one million companies in 20 countries. It has the most extensive network in Russia, with more than 18,000 branches and internal divisions.

Sberbank also has subsidiaries, branches and representative offices in the U.S. and the U.K., as well as Central and Eastern Europe and elsewhere.