T-Bank will open two branches in China: in Shanghai and Xi’an

The organization has already submitted a request to the Central Bank to approve a candidate for the position of branch manager of TBank JSC in the People’s Republic of China.

The agency clarifies that T-Bank’s parent company, TCS Group (currently T-Technologies), announced international expansion plans in the summer of 2024, following its rebranding. The holding company later stated that the new brand would facilitate the purpose of the bank’s presence abroad.

According to Interfax, the group was considering three markets in Southeast Asia for its international expansion. Notably, TCS Group was planning to obtain a banking license in the Philippines. The company also explored the Latin American market and planned to provide procurement services in the region.

Previously, on November 14, shareholders of TCS Group (T-Bank’s parent company) in an extraordinary meeting approved changing the group’s name to T-Technologies. In addition, as of November 28, trading in the holding company’s shares began to take place under the symbol T instead of TCSG.

Prior to this, in June 2024, Tinkoff Bank updated its branding and changed its name to T-Bank. All products and services of the holding company operate under new names since June 5. The company hopes to use the letter “T” for new business areas in Russia and future international projects.