Sberbank: A Digital Bank That Lacks A Digital Strategy [Seeking Alpha]
SBERBANK OF RUSSIA S/ADR (SBRCY)
NASDAQ:AMEX Investor Relations:
sberbank.com/investor-relations
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Source: Seeking Alpha
Sberbank: A Digital Bank That Lacks A Digital Strategy Sberbank ( OTCPK:SBRCY A Wannabe Giant Sberbank said it had signed Gazprombank owns a stake in Mail.ru through a joint venture MF nologies, which also includes MegaFon, Alisher Usmanov's USM Holdings, as well as Rostech. Gazprombank has 35% in the joint venture. In total, MF nologies has 58.87% of the voting power. The share of Gazprombank, therefore, is 20.58% of the voting shares of Mail.Ru Group. The approximate transaction price may be about $170 million. For Sberbank, $170 million is not a significant amount, it is only about 1.3% of net profit for 2018 and there should not be a significant impact on financial results for 2019. At the same time, participation in Mail.ru should contribute to the development of the Sberbank ecosystem, at least in theory. In practice, things are a bit more complicated. According to the strategy of Sberbank approved at the end of 2017, by 2020, it should be transformed into a tech company and co
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