MOSCOW : Already Russia's dominant lender, state-owned Sberbank has become one of the country's leading technology players, taking on an increasingly important role as sanctions and exiting rivals create gaps only a handful of firms can fill.
Sberbank's almost $530 billion in assets and 107 million retail clients underline its banking credentials. Since 2020 it has cast itself as a technology company as well, and is now seeking a bigger slice of Russia's shrinking technology pie. Russia, nevertheless, has acknowledged major shortcomings with its electronics industry. Imports of micro chips and other high-tech hardware crucial for weapons and car manufacturing have dried up and hundreds of thousands of workers, including many in the tech sector, have moved abroad.
He declined to say whether the bank used so-called parallel imports, those that have been brought into the country without the licence holder's permission - an increasingly important market in post-sanctions Russia.Even with supply issues, Sberbank has accelerated a drive to migrate to in-house technology and is ready to sell software domestically and for export if possible, Belevtsev said.
"There is already a lot of cooperation on engineers and technology," Belevtsev said."We would like to see active cooperation on open source solutions ... not just between Russia and China, but in all countries of the world."
Source: Tech Daily Report (techdailyreport.net)
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