February 2017, Bangalore (India) – Sberbank took part in Asia’s premier aerospace industry exhibition, Aero India 2017.
During the exhibition, Sberbank signed a memorandum of understanding with Stork GmbH – a supplier of titanium and aluminum products for India’s aerospace industry. Some of the cooperation areas include settlements in national currencies (rupee – ruble), trade financing, project financing in the framework of the Make in India program. Vigen Sogomonyan, Head of Corporate Business at Sberbank India branch, signed the memorandum on Sberbank’s behalf.
“Sberbank in India is a pillar bank for serving the defense military complex clients,” CEO of Sberbank India Alexey Kechko noted. “Our clients are not only subsidiaries and representative offices of Russian companies, but also Indian partners. Participation in the expo has provided us with a unique opportunity to present our services and hold trilateral negotiations with suppliers and buyers.”
Sberbank’s branch in India enables Sberbank Group’s strategic presence in Asia. It focuses on providing banking services targeted at developing external trade between India and Russia, CIS counties and other countries of the Group’s presence.
The branch’s service offering includes conversion operations, cash management services, bank guarantees, deposits of legal entities, national currency loans, as well as consulting in the field of trade and economic relations between Russia and India.
The unique product of the Sberbank branch in India is direct settlements in national currencies (rupee – ruble).
Aero India Expo 2017 was held with support of the Indian Ministry of Defense in Bangalore on February 14-18, 2017.
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Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank’s authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 4 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.