Sberbank London Branch: Address, Services & Current Status

Yes, Sberbank (via Sberbank CIB UK Ltd) operates a branch in London.

Details

• Address: 16 New Bridge Street, London EC4V 6AL, United Kingdom
• Entity: Sberbank CIB UK Limited (authorized by PRA, regulated by FCA & PRA).
• Services: Corporate & investment banking: trade finance, syndicated loans, FX, rates, commodities, advisory for Russian/CIS-related business. No retail/personal banking.

Critical Context (Post-Feb 2022)

• Sanctions: Sberbank (Russia) is under full blocking sanctions (UK, EU, US, CA). Asset freeze, transaction bans.
• UK Subsidiary: Sberbank CIB UK Ltd had its permissions varied by FCA/PRA (March 2022) — effectively restricted to wind-down activities only (managing existing obligations, no new business).
• Deposit protection: Not covered by FSCS (not a UK deposit-taker for retail).
• Practical status: Largely non-operational for new clients. Existing counterparties managing runoff.

Alternatives for Russia-Linked Banking

• Gazprombank (UK) — similarly restricted.
• Non-sanctioned banks with Russia desks (e.g., Raiffeisen Bank International, UniCredit, OTP — but tightening).
• Local Russian banks (via correspondent channels, if permissible).
• Fintech/crypto — high risk, compliance scrutiny.

Bottom line: The London office exists legally but is functionally in run-off. Do not expect standard banking services. Seek specialized compliance/legal advice for any Russia-connected financial needs.