Russia’s SBERBANK has launched a new banking product, the Blitz express money transfer. The bank is seeking to increase the volume of money transfers via the system by 62.5% to R65 billion, from the current R40b. The Blitz system secures rouble money transfers all across Russia during an hour from the time of dispatch. The Blitz system will be made operational in 3,500 SBERBANK branches. The number of such branches is to increase to 5,000 by April 1, 2006.
Source: VEDOMOSTI, February 1, 2006
