Russia’s biggest lender Sberbank launches two specialised platforms for business in India

Russia’s biggest lender, Sberbank, announced the launch of two specialised platforms for business in India and Russia, with one of them being a recruitment platform that brings together Russian and Indian recruiting agencies and government services.

Its goal is to attract Indian specialists to the Russian market, which is experiencing an acute shortage of personnel. In addition, the project will promote cultural exchange and strengthen business ties.

The second is an IT platform for finding partners, developed jointly with major Indian companies. It will provide Indian businesses with all the necessary information about opportunities in the Russian market, regulatory frameworks, and potential partners.

Given that Sber serves about 50 per cent of the Russian market and has three million corporate clients, establishing connections between Indian companies and Russian partners will be simple and effective.

Speaking to the media, Herman Gref, CEO, Chairman of the Executive Board of Sberbank, said the bank attracts investors to the Indian market and try to support them. It serves as a bridge for Indian companies to the Russian market. It is much easier for us because we are a large company and understand all the market opportunities in Russia.

“We would also like to attract investors and finance them if they are ready to invest in the Russian market. We will try to build infrastructure for their business together with them,” said Gref.

The main task is to create a digital ecosystem for companies in both countries and balance the trade deficit. Currently, the imbalance is about USD 50 billion in Russia’s favour.

Sber intends to increase the share of Indian exports in the Russian market. It is expected that by the end of the current year, the bank will service more than 15 per cent of all trade turnover between the countries.

Gref also emphasised that the bank is interested in partnership with India in three key areas: financial services, technology, and education and healthcare.