Russia’s state-owned Sberbank suspended a crypto initiative due to the negative stance of the central bank.
Sberbank (formerly known as Sberbank of Russia) is a Russian state-owned bank founded in 1991 and headquartered in Moscow. Sberbank is the largest bank in Russia and Eastern Europe with total assets of $390 billion, three hundred thousand employees and about seventy thousand offices. Sberbank has an international presence in Germany, the United States, India, China and many other countries. Sberbank online is considered to be one of the best online banking services in Russia. Sberbank has a strong investor relations department that publishes annual reports about Sberbank’s clients, financial performance and strategies. Sberbank also publishes monthly investor presentations about its efficiency, profitability, forecasts and important events. Herman Gref — CEO of Sberbank is a blockchain and cryptocurrency enthusiast and has plans of implementing those technologies into the banking system.
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