Banking systems specialist Electronique Serge Dassault SA Friday announced a multi-year contract with Sberbank, the largest savings bank in the Soviet Union, which is worth more than the Paris company’s annual turnover. Valued at an initial $170m against total turnover for the automation division of the firm of $125m last year – the contract covers automation of the bank’s branch network, including the installation of computers in branches, and the introduction of automated payment systems. Overall, the bank plans to invest $33,000m between now and 2005, spread over three five-year plans, with 15% allocated for computerisation, and Serge Dassault is hoping for a third of the business, $1,600m. The agreement with the bank, headquartered in Tartu, Estonia, also covers eventual local manufacture of systems.
