Sberbank plans to place bonds in yuan in 2017

12:57, 1 September 2016

VLADIVOSTOK. KAZINFORM Russia's largest savings bank Sberbank plans to place bonds in yuan in 2017 and is currently in talks with several interested companies, the bank's senior Vice President bank Igor Bulantsev told reporters.

"I think it will not happen this autumn. But next year it is very likely (that the bank will place bonds in yuan - TASS). On the one hand we see a growing interest in the financing in RMB, but on the other hand it is a complex instrument," he said.

According to Bulantsev, Sberbank is in preliminary talks with several interested companies.

Sberbank’s top manager also said that Sberbank also plans to participate in other companies transactions with yuans.

Earlier TASS reported that Sberbank is developing cooperation with a number of Chinese banks, and will consider diversification of sources of liabilities in RMB, in particular for granting loans in RMB to Russian corporate borrowers.

In 2016, the bank launched pilot retail products in RMB, which are being tested in the Far East region.

Source: TASS

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