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The Russians massively withdraw money from banks: diplomats

Россияне массово забирают деньги из банков: названа причинаIt is expected the largest for ten years the outflow of money from banks.

In Russia, the fears of citizens about the availability of money on Deposit because of the sanctions led to the outflow of funds from the banking system.

In September, the net outflow of savings from banks reached almost 500 billion rubles in the first nine months the growth of deposits amounted to only 3.5%.

The reason for the outflow of deposits, the fears of citizens regarding the fate of their funds in state banks, especially in foreign currency, due to the possible severe sanctions of the United States, announced in August. They, in particular, provide for the option of a ban for Sberbank, VTB, Rosselkhozbank, Promsvyazbank, Bank’s payments in U.S. dollars.

The Central Bank hope that the outflow is short, and so far no change forecast – the influx of 7-9% for the year.

But experts believe that to achieve these results will not succeed, and a net outflow of deposits from banks will persist for another couple of months until the announcement of the U.S. decision on sanctions. The result for the year inflows of savings into the system may be the lowest in the last ten years.

While the lowest result was recorded in 2016 and 4.2% with regard to currency revaluation, according to Central Bank data.

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