Vneshtorgbank in the first quarter opened five regional branches and plans to open six more by the end of the year, Deputy Chairman Gennady Soldatenkov said.
The bank opened branches in Kazan, Tambov, Tomsk, Yakutsk, and Yaroslavl, he said. The other six will also be opened in big cities.
Vneshtorgbank opened two branches last year in Vladivostok and Chelyabinsk, Soldatenkov said.
The bank will also open 17 offices in Moscow and Moscow region this year, bringing the total in the region to 25 - 27, he said.
Vneshtorgbank is focusing on developing its subsidiaries and offices abroad, he said, adding that offices in Milan and Beijing had increased their operations.
The bank recently opened an office in Kiev that will handle transactions not only in Ukraine, but in Belarus as well. Vneshtorgbank plans to open offices in other CIS countries, he said.