The main inconvenience for the Crimeans was due to the fact that due to the lack of Sberbank branches on the peninsula, they had to travel to the offices of the Krasnodar Territory. The bank’s services were used by many individuals and businessmen, who had employers or business partners in other regions of the Russian Federation. It was possible not only to issue a card, but also to get a loan, but for this I had to travel outside the Crimea.
Tourists who came to rest in Crimea paid in shops and cafes with cards of Sberbank and other banks of the mainland, but they could only withdraw cash at ATMs of Crimean banks with a commission. Now these inconveniences will be eliminated. Following the Crimean referendum and the return of the peninsula to Russia in 2014, large Russian companies and financial institutions were unable to operate in Crimea for fear of Western sanctions. Four Russian banks operated in Crimea, of which RNCB and Rossiya Joint-Stock Bank had the largest customer base. In 2022, after the start of the military special operation, the situation changed.
“Before, banks were afraid of sanctions from Western countries,” Alexei Yakovlev, a financial analyst and associate professor at the Department of Finance and Credit at Sevastopol State University, told RG. – Sberbank is the largest Russian financial institution that had correspondent relations with the countries of Europe and America, subsidiary banks in the EU countries. And since in 2022 all kinds of sanctions were imposed against Sberbank and everything possible was blocked, this reason has disappeared, there are no longer any obstacles to opening branches in Crimea.
With the arrival of Sberbank, the business of the peninsula is committed to a more intensive credit
As a result of the emergence of such a major player in the market for banking services, competition will increase, which will lead to a reduction in bank fees and an increase in the quality of service, the expert believes.
“Businesses hope that with the arrival of Sberbank, lending to Crimean businesses will become more intensive,” Yakovlev noted.
Well, ordinary Crimean citizens hope that after the banking sector, large fuel companies, retail chains and mobile operators will move closer to the peninsula.