Alfa Bank will open branches in China in 2025 – Kommersant
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Alfa Bank plans to open branches in China – in Beijing and Shanghai – in the third quarter of 2025, Alfa Bank business partner Zoya Rodionova said at a meeting of the specialized investment commission of the St. Petersburg Legislative Assembly. Such approximate dates are announced by the Chinese side, Ms. Rodionova noted. “Opening branches will make it easier for us to conduct transactions in yuan. And, naturally, it will make the situation easier for clients who have partnerships with China,” Zoya Rodionova told Kommersant-SPb.
About the bank’s entry into the Chinese market reported in September 2023. In September, the organization prepared applications for registration of branches in Shanghai and Beijing, and in October, the bank’s chief managing director, Vladimir Verkhoshinsky, clarified that the Central Bank of the Russian Federation had approved them. As Kommersant previously wrote, in 2022 Alfa Bank significantly increased the volume of servicing contracts and customer transactions in the country, and therefore began to “consider options for presence in the PRC to support business.”
Read more about this in the Kommersant publication. “For entertainment income”.
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