Sberbank begins providing loans in yuan, sees high client demand

VLADIVOSTOK. Sept 6 (Interfax) - Sberbank has started providing loans in yuan, and the Russian state credit institution sees high demand for the yuan-denominated loans on the part of corporate clients, Alexander Vedyakhin, the bank's first deputy executive board chairman, told reporters on the sidelines of the Eastern Economic Forum 2022.

"We have already started lending in yuan, and we see fairly high demand for it," Vedyakhin said.

Vedyakhin noted that Sberbank also operates with the rupee, though demand for loans in the Indian currency is not very high thus far.

"We are actively working with the rupee, though there has not been any active demand for loans in the Indian currency so far; however, if it appears, then we are also ready to deliver," the bank's first deputy chairman said.

Vedyakhin said that these were the two main currencies on which Sberbank is currently focusing for the most part.