Sberbank to open new branch in Mumbai and IT division in Bangalore

Sberbank to open new branch in Mumbai and IT division in Bangalore

Public joint-stock company "Sberbank Russia" is set to open a new branch in Mumbai, India, at the start of October. The announcement was made by Anatoly Leonidovich Popov, the bank's Deputy Chairman of the Board, at the Eastern Economic Forum on Monday. The Mumbai office will offer a comprehensive range of services for corporate clients.

The bank has already selected premises, undertaken renovations, and is currently in the process of hiring staff. Sberbank obtained permission from India's regulator to open its second branch in the country in Mumbai in the fall of 2022.

In addition to the Mumbai branch, Sberbank is also working on establishing an IT division in Bangalore, India. The IT hub will initially cater to the development needs of Sberbank's Indian branch. The bank is currently negotiating workspace leasing and searching for employees in the local market.

Popov also noted that Sberbank already has a presence in India, with a branch that has been operating in New Delhi since 2010, providing a wide array of financial services. However, he stated that opening similar offices in other countries is not currently under consideration.

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