Sberbank to issue yuan bonds in 2017

This year, the bank launched pilot retail products in yuan.

Russia’s largest savings bank Sberbank plans to issue bonds in yuan in 2017 and is currently in talks with several interested companies, the bank’s senior vice president Igor Bulantsev told reporters on Sept. 1.

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

This year, the bank launched pilot retail products in yuan, which are being tested in the Russian Far East.

First published by TASS

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