The story of Subsidiary Bank Sberbank of Russia Joint Stock Company in Kazakhstan started at the end of 2006, when Sberbank of Russia, the leader of Russian financial system, the largest financial establishment of Central and Eastern Europe, purchased 99.99% of shares of TeksakaBank which was recognised as the Bank with the best client service level according to the National Business magazine. In 2007 the Bank received license to perform bank and other operations exercised by banks in national and foreign currencies. In the same year, the authorized capital of the Bank was increased almost 15 times and reached KZT 29 bln (more than USD 240 mln), which allowed SB Sberbank JSC to be ranked TOP- 10 largest banks of the Republic of Kazakhstan in terms of the authorized capital amount. SB Sberbank JSC has extensive liaisons with the world's largest banks, as well as profound experience in dealing with clients and partners involved in various economy domains. As of today, SB Sberbank JSC has branch network comprising of 111 structural subdivisions, 17 of which are branches. The central office of the Bank is located in Almaty.