State Labor Savings Banks System of the USSR

A soviet passbook with the words "savings booklet" in the USSR's 15 official languages

The system of State Labor Savings Banks of the USSR (Russian: Государственные трудовые сберегательные кассы СССР, shorthand Gostrudsberkassy) was the main retail bank of the Soviet Union, which in some respects perpetuated the prior operations of savings banks or Sberkassy in the Russian Empire. Unlike before the revolution of in other countries, however, the Soviet savings banks were not autonomous entities but were fully part of the state administration.[1]: 274 

In 1987, the system was renamed the Savings Bank of the USSR (Russian: Сберегательный банк СССР),[2] abbreviated as Sberbank. Following the dissolution of the Soviet Union, its operations were reorganized into new institutions in the post-Soviet states, such as Belarusbank in Belarus, Eesti Hoiupank in Estonia, Halyk Bank in Kazakhstan, Latvijas Krājbanka in Latvia, Lietuvõs Taũpomasis Bánkas in Lithuania, Banca de Economii [ro] in Moldova, Sberbank in Russia, and Oschadbank in Ukraine.[3]: 25 

  1. ^ Cite error: The named reference DAA was invoked but never defined (see the help page).
  2. ^ "SberBank history". Sberbank.
  3. ^ Khaled Sherif, Michael Borish, & Alexandra Gross (2003), State-Owned Banks in the Transition: Origins, Evolution, and Policy Responses (PDF), Washington DC: World Bank{{citation}}: CS1 maint: multiple names: authors list (link)