You're reading: Sberbank’s Ukrainian subsidiary to open around 30 branches in 2012

The Kyiv-based subsidiary Bank of Sberbank Russia plans to open 30 branches in Ukraine in 2012, the bank's first deputy CEO, Alexander Vedyakhin, has told Interfax.

"Around 30 new branches will be opened. The new branches will be opened in regions where the bank is already present, in order to finish the development of its regional networks there. These are major cities, regional centers," he said.

The banks’ regional branch network currently includes 130 branches.

Subsidiary Bank of Sberbank Russia was founded in 2001. Russia’s Sberbank is the sole shareholder. According to the National Bank of Ukraine, the bank was 17th biggest in Ukraine in terms of assets as of January 1, 2012.