Investment social network platform eToro has made a move into Russia by partnering with Sberbank, the country’s largest bank.
eToro and Sberbank have created a joint venture which will develop and launch an operation in Russia. eToro boasts over five million users across 140 countries. It already has a Russian version of its trading platform, one which boasts integrated innovational and intuitive trading instruments.
Sberbank CEO Herman Gref: “The eToro platform features a simple interface, which supports trading in global financial markets, using the knowledge and experience of other traders. This year we plan to establish a joint venture for serving clients in Russia.”
CEO of eToro chipped in with: “We are pleased that our partnership with Sberbank will enable us to provide access to our services to the clients of the largest Russian bank, as well as to offer an alternative financial instrument and innovational platform for investments in financial markets.”
The founder and principal shareholder of Sberbank is the Central Bank of the Russian Federation. It is the key lender to the national economy and the biggest deposit taker in Russia. It has more than 135 million individual customers and more than one million corporate clients in 22 countries.