T-Bank plans to open branches abroad, will ask Central Bank of Russia for permission

MOSCOW. Aug 9 (Interfax) - T-Bank (formerly Tinkoff Bank ) plans to open branches abroad.

The bank said in a statement that the relevant issues are on the agenda of the board meeting scheduled for Friday.

The bank plans to consider setting up two branches, as well as "granting the right to sign petitions for the issuance of permits by the Bank of Russia to create branches in the territory of a foreign state and other documents."

The bank did not disclose details. Interfax sent a request to the bank for comment.

T-Bank's parent company TCS Group , known as IPJSC TCS Holding following re-domiciliation, has spoken of plans to expand abroad.

The group confirmed its intention to tap international markets in July 2024, when it rebranded Tinkoff Bank. The holding then said the new brand would be a universal solution for expansion abroad.

The group had previously looked at three markets in Southeast Asia for international expansion, disclosing one of them: it planned to obtain a banking license in the Philippines. TCS Group had also previously thought about entering the Latin American market, expecting to start there by providing merchant acquiring services.

The main shareholder of TCS Holding is Vladimir Potanin's Interros.