Sberbank planning to expand in India to 10 locations, has considered opening a headquarters in New Delhi

ST. PETERSBURG. June 3 (Interfax) - Sberbank plans to expand its presence in India to 10 locations, Anatoly Popov, Sberbank's Deputy Management Board Chairman, told reporters at the St. Petersburg International Economic Forum (SPIEF).

"Our team is actively developing our business in the Indian market. We currently have three branches operating in New Delhi, Bangalore, and Mumbai, but we plan to expand our presence to 10," Popov said.

"We have discussed opening a large headquarters in New Delhi, where we also hope that Russian businesses operating in India will be actively represented, and we will help Russian companies operate in this rapidly developing and dynamic market," Popov said.

Sberbank currently has two offices/branches in India in New Delhi and Mumbai, as well as an IT hub in Bangalore.

It was previously reported that Sberbank was awaiting approval from local regulators to open branches in 10 cities as part of its expansion in India.