Siberia’s 66-billion-ruble boom in secure letter-of-credit deals
Siberian residents completed over 16,000 letter-of-credit transactions through Sberbank in early 2025. The total value of these deals reached nearly 66 billion rubles, showing an 11% rise compared to the same period last year. The bank highlighted the growing reliance on secure online payments across the region.
Most of the transactions took place in Novosibirsk Oblast, where residents were responsible for nearly half of the region’s activity. The service proved especially popular for interregional trade, such as a cat breeder safely shipping kittens to buyers in distant cities using online payments.
The surge in transactions reflects a broader trend of businesses and individuals opting for secure online payments methods. With nearly 66 billion rubles exchanged, the system has become a key part of Siberian trade. Sberbank continues to expand its financial services to meet rising demand for online payments.
