Investment portal launched in Russia

RUSSIA / FSU POLITICS - In Brief 16 Sep 2019 by Alex Teddy
Russian internet company Yandex is considering setting up an investment portal with VTB which is Russia's second biggest state owned banks. The aim is to start a fintech service to sell equities and funds to small scale investors. It will be called Yandex.Investment. The news has not yet been officially announced by Yandex or VTB.E-commerce made up only 4.8% of Russia's trade in 2018 but it growing fast. Last year Yandex (Russia's biggest digital company) set up an online marketplace with Sberbank. Sberbank is Russia's major state owned retail bank. But the online market place failed within months. It was called Yandex.Market and collapsed in July 2019. Sberbank is still keen on digital innovation. It is now collaborating with Mail.ru.

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