Sberbank is the undisputed leader of the Russian banking industry, accounting for over a quarter of national banking assets. Established in 1841 it gained its present status of an open joint-stock company in 1991. The General License of Sberbank allows it to operate as a universal commercial bank in every segment of the financial market, providing its customers with the full range of banking services. The Bank's history of 165 years is closely related to the economic and social development of the country. Numerous political and economic shifts have affected the Bank but its role as the major provider of funds to the national economy through channelling deposits and its main mission of providing banking services for all layers of the population have always remained unchanged. Public recognition gained by Sberbank through tradition of being the bank for the people, helped in establishing mutually advantageous relations between the Bank and its customers. Sberbank remains the largest bank in Russia and Central and Eastern Europe in terms of Tier I capital and assets. The bank's total assets — RUB 2,513.1 billion — exceed the combined assets of the next 10 largest Russian banks. Sberbank is the leading universal commercial bank in Russia and continues to provide a full range of banking services. Sberbank’s customer base far exceeds that of any other bank in Russia. At the beginning of 2006, the Bank had over 6.5 million retail customers and over 1.4 million corporate clients. The Bank operated 269.3 million accounts for individuals, an average of 1.9 accounts per person in Russia. Thus, clients throughout Russia can benefit from the Bank's quality products and superior services.