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|**BISNISHome PageSearchBISNISEmbassyReportsCountryReportsIndustryReportsPublicationsSourcesof FinanceLeadsand EventsExchangeRatesState ExportsOtherSources** |  | August 1997Sberbank, the only Russian bank where individual clients' deposits are protected by the Russian
Government, holds more that 70 percent of non-corporate deposits in Russia.  Other strong
Russian banks (such as Inkombank, Bank Rossiiski Kredit, Bank Stolichnych Sberezheniy,
and Menatep) are challenging Sberbank's domination of the market, and are vying with one
another to attract some of the billions of dollars worth of  "under the mattress" savings held by
Russian citizens.  The standard services offered to individuals in both Moscow and regional banks
are currency and ruble demand accounts, savings accounts, and certificates of deposit.  Although,
according to Rossiiski Kredit Deputy Chairman Mr. Yuri Isayev, "the market demand for plastic
cards is not high yet," Russian banks have began issuing classic and business VISA,
Master/EuroCard, and bank debit cards to establish a position in the market for the future.  As a
rule, regional banks issue credit cards under the same conditions as their Moscow counterparts. 
Many banks  also offer "salary cards," an effective way for an employer to pay employees' salaries
by direct bank deposit.Walk-in customers to regional branches can count on receiving a number of services, including
cash advances on major credit cards, inter-regional and international money transfers, and cashing
of American Express and Thomas Cook traveler's checks.  Regional banks require
documentation from customers for all transactions according to rules set by the Central Bank of
Russia.  For more information on banking and finance in Russia, visit BISNIS Online at
www.iep.doc.gov/bisnis/country/9705bnks.htm.This report is provided courtesy of the Business Information Service for the Newly
Independent States (BISNIS)