Sberbank will not curtail business in Europe, but will change the accents

Sberbank will not curtail business in Europe, but will change the accents


Sberbank would like to move towards”digital banking”, said the head of the largest Russian Bank Herman Gref.

MOSCOW, 22 Oct. Sberbank will not curtail business in Europe, but would like to shift the focus in its development through digital technologies, said the head of the largest Russian Bank Herman Gref at a meeting with investors in London.

“We described the environment with all of the changes have changed our plans for international business. We are much less aggressive with the development of international business. We are trying to optimize our international business,” said Gref.

“Now we are trying to reconsider our European strategy. We remain in Europe, but we would like to move more in the intention of the “digital banking”, he said.

“Sanctions, the geopolitical situation, the macroeconomic situation affected our international strategy, deeply affected, primarily in Europe,” said Gref.

Last year, Sberbank has launched a digital Bank in Germany to receive deposits, and it was a very successful platform that has attracted significant funds, said a top Manager.