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September 29, 2023
Finance Technologies

Sberbank drops the “bank” from its name to take on tech firms

Sberbank, Russia’s state-owned bank, is rebranding to “Sber” as it invests big in its revamp to become a technology company. The bank says the move marks the “largest transformation” in its 179-year history. Sber has launched a series of digital services alongside its tech company revamp “It’s a huge investment, not a big investment,” the bank’s chief technology officer, David Rafalovsky, tells Reuters. “We’ve always had a chip on our shoulder, we believe we are a technology company with a banking license.” The value of investments was not disclosed. Sber holds assets of around $401 billion in August and sits…
Sberbank drops the “bank” from its name to take on tech firms

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