Experts to search for lost Progress spacecraft’s fragments in SiberiaScience & Space December 06, 23:57
Russian opera prima donna nominated for Grammy 2017 awardSociety & Culture December 06, 23:46
Russian pediatrician wounded in Aleppo flown to MoscowWorld December 06, 23:35
Putin looks forward to overcoming negative trends in turnover with TurkeyBusiness & Economy December 06, 21:20
Red Cross to continue humanitarian operations in Aleppo — spokespersonWorld December 06, 21:09
Russia proposes UN to be venue for discussing world’s controversial anti-doping systemSport December 06, 21:04
Dialogue on Germany’s initiative for armed control depends on NATO — diplomatRussian Politics & Diplomacy December 06, 20:57
Mikhail Saakashvili says he seeks to change Ukraine’s political classWorld December 06, 20:46
Defense minister promises 2017 World Military Games in Sochi to be held 'at highest level'Military & Defense December 06, 20:37
MOSCOW, January 24, /ITAR-TASS/. Sberbank, one of Russia’s biggest banks, is not planning to open a bank in China, Sberbank President German Gref said in an interview with the Vesti24 television channel.
“We run an office in China but we don’t have plans to make investments in China,” he said. “Regrettably, the Chinese market is very closed. I see no perspectives of gaining a strong foothold on the Chinese market under the current regulation rules.”
According to Gref, China’s market is not interesting for financial companies. “Under the current regulation and the protectionist policy in China, we do not consider that country interesting for us. We have no investment plans in China in the next five years,” he said, adding that India’s market looked more interesting, although the bank would focus on Eastern European countries. “Last year, our European bank - Sberbank Europe - earned its first profit and this year it would yield good returns,” he noted.
Earlier, the Bloomberg agency cited Sberbank’s deputy chairman Sergei Gorkov as saying that the bank planned to work out a strategy of entering the Chinese marker in 2014.