Sberbank, the largest Russian state-controlled bank, hopes to open a subsidiary in China before the end of 2023, its vice president, Alexandr Vedyajin, announced at a press conference on Monday.
“I hope that by the end of 2023 we will be able to open the subsidiary in China, usually that takes between a year and a half and two years. We hope that by the end of 2023 we will have a subsidiary in that country”, he stated, quoted by the Interfax agency.
Vedyajin noted that Sberbank maintains “active communications” with the Chinese regulator, which was provided with a “huge package of documents”.
“The Chinese regulator scrupulously reviews all documents and requests them in large quantities”, he added.
Nowadays sberbankdisconnected last May from the SWIFT international interbank messaging system by the European Union (EU) as part of the sanctions for the Russian military campaign in Ukraine, has only one subsidiary in India, the only one abroad.
Source: EFE
Source: Gestion
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