Russian financial institution leads Europe in card issuance
Russia’s Sber has been recognized as the leading card issuer in Europe for 2023, according to an announcement from the bank's press service. Read Full Article at RT.com
TroibNews 
Sber, the Russian state-controlled bank, is the leading issuer of bank cards in Europe, according to a recent announcement from its press service. The commendation is based on findings from the Nilson Report, a prominent American analytics company focused on payment systems.
The latest statistics highlight Sber's dominance, noting it as the leader in both the number of bank cards issued and the volume of point-of-sale (POS) transactions across Europe as of the close of 2023. The top-50 European banks issued a cumulative total of 920 million cards, with approximately 182 million, or 19.8%, being issued by Sber. Additionally, in 2023, Sber accounted for almost $500 billion in POS transactions.
Dmitry Malykh, Sber's senior vice president, expressed that these results were anticipated. "Since 2021, Sber has consistently topped the ranking of the largest issuers of debit and credit cards in Europe… For several years now, we have been actively developing innovative payment methods using NFC, QR code, or paying with a smile in the SberPay family of payment services, and Sber’s technological leadership here is obvious," he explained.
Sber remains the largest bank within Russia and Central and Eastern Europe. Its net profit for the first half of 2024 reached 768 billion rubles, with a client base of 81.9 million monthly active users on its digital platform. Last year, the bank was recognized as the strongest brand among European financial institutions and secured the seventh position as the strongest European brand overall, surpassing entities like Michelin, Lamborghini, and Rolex, according to London's Brand Finance.
Following the imposition of Western sanctions due to Russia's involvement in the Ukraine conflict, Sber ceased its operations in the EU banking sector in mid-2023. Previously, it operated Sberbank Europe AG with branches in eight EU countries, serving around 715,000 clients. Post-exit from the EU market, Sber has primarily refocused on its domestic market in Russia and is expanding its presence in Asia, including longstanding operations in India and new plans for Bangladesh and China.
For further insights into economic and finance stories, visit RT's business section.
Alejandro Jose Martinez for TROIB News
The latest statistics highlight Sber's dominance, noting it as the leader in both the number of bank cards issued and the volume of point-of-sale (POS) transactions across Europe as of the close of 2023. The top-50 European banks issued a cumulative total of 920 million cards, with approximately 182 million, or 19.8%, being issued by Sber. Additionally, in 2023, Sber accounted for almost $500 billion in POS transactions.
Dmitry Malykh, Sber's senior vice president, expressed that these results were anticipated. "Since 2021, Sber has consistently topped the ranking of the largest issuers of debit and credit cards in Europe… For several years now, we have been actively developing innovative payment methods using NFC, QR code, or paying with a smile in the SberPay family of payment services, and Sber’s technological leadership here is obvious," he explained.
Sber remains the largest bank within Russia and Central and Eastern Europe. Its net profit for the first half of 2024 reached 768 billion rubles, with a client base of 81.9 million monthly active users on its digital platform. Last year, the bank was recognized as the strongest brand among European financial institutions and secured the seventh position as the strongest European brand overall, surpassing entities like Michelin, Lamborghini, and Rolex, according to London's Brand Finance.
Following the imposition of Western sanctions due to Russia's involvement in the Ukraine conflict, Sber ceased its operations in the EU banking sector in mid-2023. Previously, it operated Sberbank Europe AG with branches in eight EU countries, serving around 715,000 clients. Post-exit from the EU market, Sber has primarily refocused on its domestic market in Russia and is expanding its presence in Asia, including longstanding operations in India and new plans for Bangladesh and China.
For further insights into economic and finance stories, visit RT's business section.
Alejandro Jose Martinez for TROIB News
