Sberbank To Expand Operations In India With USD 100 Million Investment Plan

Sberbank, Russia’s largest lender, has announced a major expansion plan for India, signalling growing confidence in the country’s rapidly developing financial market.

The bank will invest about USD 100 million over the next three years as it broadens its services and strengthens its operational footprint.

CEO and Chairman of the Executive Board Herman Gref said the bank intends to expand its business gradually, leveraging its full banking licence in India.

“We will expand our business in a step-by-step manner over the next three years. We will ramp up B2B business and enter into the B2C segment,” Gref told reporters during his visit.

Sberbank, which began its Indian operations in 2010, has formally requested the Reserve Bank of India (RBI) to grant 10 new branch licences across 10 cities.

The bank currently operates two branches and runs an IT unit in Bengaluru, which functions as an in-house data processing centre.

As part of its expansion blueprint, Sberbank will bring an advanced IT system from Moscow and modify it to comply with Indian regulatory requirements.

The bank also plans to set up an additional data processing centre in Hyderabad, further boosting its technological backbone.

Gref emphasised that Sberbank aims to collaborate with suitable Indian partners to introduce new technologies across high-tech industries, education and healthcare.

The Sberbank group employs around 900 people in India, and staffing numbers are expected to grow significantly over the next few years.

A Visit Amid Strengthening Bilateral Relations

Gref is visiting India alongside Russian President Vladimir Putin, who arrived for a two-day official visit for the 23rd India–Russia Annual Summit at the invitation of Prime Minister Narendra Modi.

This marks Putin’s first visit to India in four years and underscores deepening economic and strategic cooperation between the two nations.

Gref confirmed that Sberbank’s investment over the next three years will amount to ‘a few USD 100 million’ and will cover multiple verticals, including new office infrastructure and data centres.

The bank has recently launched a financial product allowing Russian account holders to invest directly in India’s Nifty 50 stocks.

It also plans to offer customers access to Indian government securities, which provide stable returns. In addition, Sberbank is exploring a product to finance gold imports from India.

Commenting on bilateral financial transactions, Gref noted that rupee–rouble trade has grown nearly 14 times, with turnaround time improving as the system matures.

Expressing confidence in India’s economic trajectory, he said the country is expected to grow at 6–7 per cent annually over the next decade and praised the stability of the Indian rupee.

Gref said this is the right moment to invest in India, as the economy is expanding at a faster and more sustainable pace than China’s, making the country an attractive destination for long-term investment.

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