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Wednesday, 19 December 2012 - Sberbank to buy Yandex online payments service: source |
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Sberbank, which accounts for a third of overall lending in Russia, has been expanding in the consumer credit market amid weak corporate loan portfolio growth. In recent years, it has launched its own credit card business and tied up with French bank BNP Paribas in a joint venture focusing on point-of-sale lending, a popular form of in-store consumer finance in Russia. Yandex, which raised $1.4 billion when it floated on the U.S. stock market in May 2011, came under scrutiny during election protests over the past year when it was reported that opposition leaders were raising funds via Yandex.Dengi. (Reporting by Katya Golubkova and Anastasia Teterevleva; Editing by Dan Lalor) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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