Russia ranks as the third largest sending market in the world after the US and Saudi Arabia, while Uzbekistan, Tajikistan and Ukraine are three of the Russian-originating states that receive the highest value in remittances. MoneyGram has also unveiled plans to expand its services to an additional 10,000 bank branches in the region.
Sberbank owns approximately 30 percent of the total assets of the Russian banking system and has a ramified branch network in Russia, with subsidiaries in Kazahstan and the Ukraine.
The partnership was signed in Q3 2010.
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