Sberbank plans to open another office in India in 2023
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Sberbank intends to open an office in the Indian city of Mumbai in 2023. According to Anatoly Popov, deputy chairman of the board of the bank, the financial institution has already sent a corresponding request to the local regulator.
“Against the backdrop of expanding cooperation between Russia and India and increasing demand for banking products from our clients, including exporters, we are working on opening another Sberbank office in India, in the business capital of India, the city of Mumbai,” Mr. Popov said. on the margins of the Eastern Economic Forum (EEF) (quote from RIA Novosti).
He noted that the bank is in the process of coordinating with the Indian Ministry of Finance. “We hope that the office will be opened next year,” said the deputy chairman of the board of Sberbank.
The bank currently has a branch in New Delhi. It opened there in 2010. According to Mr. Popov, last year the Indian subsidiary was capitalized, and now its equity capital is $100 million. He noted that the average monthly volume of payments in national currencies from Russia to India through Sberbank from March to July 2022 increased by more than than 30 times.
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