Sberbank of Russia

So if a bank has 3% of loans that aren't getting paid, and all of a sudden it's gone bad, well, that causes concern when it reaches about 3%.

Now, it's Sberbank, which is the largest bank in Russia, about 32% of all of the banking market share in Russia.

Well, there we see that it has got a lot more than that.

In fact, it went from 4.8% to 5.5% in just 90 days.

And to give an example, They've recently decided that they want to set up a corporation which is a company, a state-owned company, which is going to be managing the development of microelectronics, a unified company for microelectronics.

And they've just given an order to one of the banks, Sberbank, you set it up and do it out of your IT departments and your own particular departments.

if you're asking about what the sentiment the widest sentiment of the population is here one has consistent opinion polls and they invariably come back and It's the same answer across all age groups and all demographics choice between a free market economy and a planned economy, we prefer a planned economy.

I mean, that is never basically changed since the time of the Soviet Union's fall.

So to me, yes, so publicly owned financial system is important.

But let me introduce a quick complication.

Number one, if Sberbank actually creates a microelectronics industry and looks after its industrial expansion, great.

But you can also have another model.

Investors are signing them off at a historically high rate.

The major banks in Russia, including Sberbank, which is... government-owned bank.

It's 33% of the market share.

Even Spearbank is refusing to buy these different war bonds.

A regime that squeezes its own vote counters during the run-up to a Duma campaign is displaying either very great confidence or very poor arithmetic.

Now, who'll fill the gaps when the teachers leave? Well, Sberbank's own macroeconomic research center answered that this week in a report on the labor market that Milov says he'd been waiting for someone in the emigration to write and that Sber wrote it instead.

Most of the growth in labor force participation in Russia since 2021 has come from people aged 55 and over.

The war's labor shortage has been filled by pensioners.

That's a huge infrastructural step.

And in Russia, Sberbank gained approval to offer trading in Bitcoin, Ether, and USDT starting early December.

Quietly expanding the rails regardless of price action.

[lips smack] Meanwhile, in the UK courts, a high court ruled that Chinese law, not English law, applies to victims' property claims over sixty-one thousand seized Bitcoin in a fraud case.

Go on.

Sber GigaChat three point one Ultra, seven hundred and two billion total, thirty-six billion active, MIT license, two hundred and sixty-two thousand context.

Sber says it was trained from scratch.

The model card hasn't been independently verified.

Says?

Yeah.

Um, now Ukraine is not without cards in this, and again, we speculated on Tuesday that after Yandex was hit, wouldn't it be interesting if, um, if Ukraine targeted Sberbank? Because that really is...

it would be an extraordinary... [laughs] And then guess what happened yesterday? A day after we, uh, we suggested it's a good idea.

I'm not saying they're listening in to us, but, um, Sberbank, uh, one of, one of its main, uh, data centers was hit.

Yes.

And, um, so Ukraine isn't, isn't that the ability, uh, to, to strike back and strike back, uh, on Russia where it really, really hurts?