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Sber sees moderate demand for corporate loans in Chinese yuan — First Deputy CEO

It is noted that Sberbank clients show active interest in the Chinese yuan

MOSCOW, November 10. /TASS/. Sberbank is seeing moderate demand for corporate loans denominated in the yuan, First Deputy CEO of the top Russian bank Alexander Vedyakhin told reporters at the Finopolis forum.

"Lending in the yuan is a new instrument for the bank. We are identifying and recording the needs of our clients and plan to develop this area. We have already seen moderate demand for this instrument. In addition to loans, clients can put yuan in hedging instruments. Customers invest free cash in structured deposits and swaps. Forwards are largely used to hedge future flows, while options are used less frequently," the banker said.

Sberbank clients show active interest in the Chinese yuan, Vedyakhin noted. "In such circumstances, Sberbank is considering the feasibility of floating its yuan-denominated bonds, while the market situation will drive specific parameters, potential amounts and timing," he added.

Sberbank started extending loans in the yuan in early September 2022.