The years 1865 - 1895 see a flourishing of the Russian banking sector, with savings bank outlets mushrooming from 47 to 3,875 nationwide and savings account passbook holders topping 2 million.

The 1st of June of 1895 marks a turning point in the history of Russian banking with the passage of a new savings bank charter guaranteeing commercial secrecy to customers. New deposit types are offered: a child trust account and a savings deposit to defray funeral costs.