On 3 December, 2004 in Delhi, Sberbank signed the Memorandum of Understanding with the State Bank of India and the Co-operation Agreement with Canara Bank, before Russian President Vladimir Putin and Indian Prime Minister Manmohan Singh. The signatories were Chairman of the Board and CEO Andrei I. Kazmin for Sberbank; Chairman of the Board A.K. Purwar for the State Bank of India; and Chairman of the Board and Managing Director V.P. Shetty for Canara Bank.
The Memorandum and the Agreement are expected to facilitate financial co-operation and mutually beneficial relationships between Russia and India and to expand the turnover of trade between the two countries. The parties intend further to develop their co-operation in documentary business, trade and project financing, settlements, conversion and information exchange.
The development of relationships with the largest Indian institutions will remain a top priority for Sberbank as it wishes to offer better and fuller service to those of its clients that work closely with the Indian partners.

Sberbank's Press Service