Sberbank has planned to open a branch in China and is discussing this issue with the country’s regulator. At the moment, Sberbank has a representative office only in India; the bank has sold its subsidiaries in Kazakhstan and Switzerland.
Alexander Vedyakhin, the first deputy chairman of the board of directors of Sberbank, spoke about Sberbank’s plans to open a representative office in China. He specified that the bank is negotiating with China’s regulator to open a branch in the country.
Vedyakhin noted that Sberbank makes payments in national currencies with other countries, even if the bank does not have a representative office there.
At the moment, Sberbank has a foreign representative office only in India. In August, Sberbank announced the sale of a subsidiary in Kazakhstan. Later it became known about the sale of the “daughter” of Sberbank in Switzerland. The Czech “daughter” of Sberbank wanted to declare bankruptcy.
Author:
Kirill Bilyk
Source: RB
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