MOSCOW, December 26. /TASS/. Sberbank expects to open a branch in China by late 2023, First Deputy CEO Alexander Vedyakhin told reporters on Monday.

"We are proactively communicating with them [with Chinese authorities - TASS]. A huge package of documents was sent there. The Chinese regulator is very scrupulous in respect of all documents and requests them in very large quantities. I hope we will manage to open the branch in China by 2023 year-end; it normally takes 1.5-2 years. We hope we will have the branch in this country by the end of 2023," Vedyakhin said.

Sberbank already has a representative office in China at present. Sber plans to open a branch in the country instead of the representative office, Vedyakhin said earlier.