Russia’s Sberbank is setting up IT operations in Bengaluru. The company has received the permission for the same from Reserve Bank of India (RBI). The new IT office will house Sberbank’s in-house data processing center. Founded in 1841, PAO Sberbank is claimed to be the largest bank in Russia, Central and Eastern Europe. Sberbank is the largest Russian bank in India. The bank has become a crucial player in helping Russia navigate Western sanctions imposed over the conflict in Ukraine.
While Sber’s India branch has been active in New Delhi since 2010 and offers a wide range of financial services, the Bangalore office will be fully focused on developing information technologies, Sberbank said in a statement.
To hire 200
“Bangalore is often called the Silicon Valley of India, and it is symbolic that Sber has chosen that city for its international IT project. The Bangalore hub will not only handle the technological needs of our Indian branch but also develop and implement new digital products for its clients,” said Anatoly Popov, Sberbank’s executive board deputy chairman in a statement. He added that in the long-term, the bank plans to hire up to 200 IT specialists in its new unit.
Betting big on AI
Recently, Sberbank CEO German Gref recently told Russian President Vladimir Putin that the bank is making around $3 billion each year from artificial intelligence, a return on investment of about 200%. “Every year we invest a sum of around $1 billion in artificial intelligence technology,” Gref told Putin at a televised event in the Kremlin. “And we get about $3 billion back from artificial intelligence.”
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Russia’s Sberbank is setting up IT operations in Bengaluru. The company has received the permission for the same from Reserve Bank of India (RBI). The new IT office will house Sberbank’s in-house data processing center. Founded in 1841, PAO Sberbank is claimed to be the largest bank in Russia, Central and Eastern Europe. Sberbank is the largest Russian bank in India. The bank has become a crucial player in helping Russia navigate Western sanctions imposed over the conflict in Ukraine.
While Sber’s India branch has been active in New Delhi since 2010 and offers a wide range of financial services, the Bangalore office will be fully focused on developing information technologies, Sberbank said in a statement.
To hire 200
“Bangalore is often called the Silicon Valley of India, and it is symbolic that Sber has chosen that city for its international IT project. The Bangalore hub will not only handle the technological needs of our Indian branch but also develop and implement new digital products for its clients,” said Anatoly Popov, Sberbank’s executive board deputy chairman in a statement. He added that in the long-term, the bank plans to hire up to 200 IT specialists in its new unit.
Betting big on AI
Recently, Sberbank CEO German Gref recently told Russian President Vladimir Putin that the bank is making around $3 billion each year from artificial intelligence, a return on investment of about 200%. “Every year we invest a sum of around $1 billion in artificial intelligence technology,” Gref told Putin at a televised event in the Kremlin. “And we get about $3 billion back from artificial intelligence.”
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