During the meeting at Sberbank's HQ general tendencies of telecommunications in Russia were discussed, as well as the prospects of Sberbank's telecommunications system development within the corporate network with the assistance of Cisco Systems. Attention was given to future trends of Sberbank-Cisco Systems co- operation and the possibility of its expansion to investment in telecommunication projects. When implementing the program of modernizing its branch telecommunication network Sberbank extensively employs the information and networking solutions of Cisco Systems Inc. which support introduction of the most advanced technologies for providing the widest range of modern financial services to Sberbank clients.