Russia's largest banks Sberbank and Huawei said on Tuesday that they have formed a strategic partnership to provide cloud computing services to Russian companies, according to Reuters.
The move will expand Sberbank's reach into the country's digital economy.
Sberbank is a Russian state-owned bank. Its business has been steadily changing from traditional banking to network services. It has invested in Russian Internet giants Yandex and Mail. Its cloud solution SberCloud hopes to provide services to large enterprises, small and medium-sized enterprises and start-ups.
Customers of this cloud solution will now have access to 37 new cloud services, all of which will be fully integrated in one system, which will also be the first service of this level in the Russian market.
Last year, German Gref, CEO of Sberbank, proposed a plan for the digital business in an interview with Reuters. Establishing a partnership with Huawei, the world's largest telecommunications equipment manufacturer, further proves Sberbank's ambitions for digital business development.
Wang Wei, general manager of Huawei's Russian business, said that Huawei will continue to operate in Russia, and cooperation with Sberbank can greatly improve Russia's digital business prospects.
He said, "This partnership truly represents a milestone in the Russian cloud service market."
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