By MOSCOW. Dec 26 (Interfax) – Sberbank expects to open a branch in China at the end of 2023, Sberbank First Deputy CEO Alexander Vedyakhin said at a press conference.
"We are actively in communication with them [the Chinese regulator], and a gigantic package of documents has gone there. The Chinese regulator is very scrupulous about all documents and requests them in very large amounts. I hope that we will be able to open a branch in China by the end of 2023, it normally takes a year and a half to two years. We hope that we will have a branch that country by the end of 2023," Vedyakhin said.
Vedyakhin said in mid-November that Sberbank was planning to open a branch in China in addition to its representative office.
Sberbank only has one branch abroad, in India.
