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Sberbank bonds will be placed in RMB in 2017

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Sberbank bonds will be placed in RMB in 2017

Sberbank bonds will be placed in RMB in 2017
September 01
12:30 2016

According to the “Interfax” statement, on Thursday Acting Head of Sberbank CIB Igor Bulantsev told about the plans of the largest Russian bank to place bonds in yuan in the coming year.

“On the one hand, we see the increasing interest in financing in RMB. On the other hand, it is a complex instrument, “- Bulantsev said, answering the journalists’ questions at the Russian-Chinese financial council, which takes place in Vladivostok.

Bulantsev refused to announce the terms of the probable placement. Also, he didn’t say with what companies Sberbank was going to conduct preliminary negotiations.

In the recent past it was known that Sberbank was engaged in the development of the cooperation with individual Chinese banks. Also, it is going to analyze the question of the sources diversification of the liabilities in the Chinese currency. Among other things, the bank is pursuing the goal of lending to corporate borrowers of the Russian Federation in RMB.

At the end of the last year The Export-Import Bank of China, China Development Bank and other Chinese lenders, opened for Sberbank limits for the trade finance in the amount of 12 billion yuan, which is equivalent to about $ 1.9 billion.

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