MOSCOW, August 12. /TASS/. Sberbank will completely stop servicing AmEx (American Express) cards on August 18, the Russian credit institution said on Friday.

"We will indeed stop servicing AmEx cards in our network from August 18. Furthermore, we already halted their issue and ATM servicing," press service of the bank told TASS.

Working with AmEx has become unprofitable, Sberbank said. "Cards turnover is incomparable with expenses required to maintain it," the press service said.

American Express is working on the Russian market since December 2005 and offers personal and corporate bank cards, lending services, traveler’s cheques and traveling or business trips organization services.