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Sberbank charts major India expansion plan
Financial Express Mumbai
|December 05, 2025
RUSSIA'S MAJORITY STATE-OWNED Sberbank is preparing a major expansion in India and plans to seek regulatory approval within three years to convert its existing branches into a wholly owned subsidiary, CEO Herman Gref said.
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The lender, which is the key intermediary in rupee-ruble settlements and facilitates nearly 65-70% of Indian exports to Russia, aims to transform into a full-fledged bank in India over the next decade. With Russia maintaining a trade surplus in billions of US dollars in rupee, the bank’s expansion will help the Russian investors deploy the money gainfully in India.
This story is from the December 05, 2025 edition of Financial Express Mumbai.
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