Russia’s Largest Bank to Open Branch in India
Sberbank (Savings Bank), Russia’s oldest and largest state-run retail bank is to shortly open its branch in New Delhi as part of its strategy to expand in the emerging markets.
September 18, 2009 | comments ( 0 ) |
Sberbank (Savings Bank), Russia’s oldest and largest state-run retail bank is to shortly open its branch in New Delhi as part of its strategy to expand in the emerging markets. The Reserve Bank of India (RBI) last month cleared Sberbank’s application for opening a fully-operational branch in New Delhi. Currently it is completing the formalities for obtaining banking license from RBI and hiring staff. Established in 1841, Sberbank is the largest credit institution in Russia and the former Soviet space, accounting for about a quarter of the aggregate Russian banking assets and a third of banking capital. Under the new strategy, the Bank plans to build a foothold in India and China to generate about 5 per cent of net income outside Russia by 2014.
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
Attend First global conference & master class on franchising.
GROW YOUR BRAND FRANCHISE >> REGISTER NOW!
- LG Electronics India expects 20% rise in sales this year
- ShopClues launches home decor label Home Berry
- Xiaomi plans to double India sales
- Tablez India launches first stores of Springfield and Women'Secret in Bangalore
- Bata looks to expand into Tier III and Tier IV markets
- Essel Finance signs Business Transfer Agreement with Intec Capital
- MobiKwik ties-up with Samsung Pay for one-tap payments on select devices
- Flipkart makes revised offer of about $950 mn to acquire Snapdeal
- Paytm invests undisclosed amount in mobile loyalty startup MobiQuest
- Raymond to launch Khadi by Raymond on October 2