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The Russians took from the Bank accounts of hundreds of millions of dollars

Россияне забрали с банковских счетов сотни миллионов долларов

The Russian physical persons in September 2018 continued to actively withdraw from banks as currency ($662 million) and ruble funds (141 billion).

For 2 months, the credit institution lost almost 200 billion roubles and more than $2.3 billion in public funds, according to the newspaper “Kommersant”.

Major losses were the banks that appeared in the American bill of sanctions limiting foreign exchange transactions. In the win for the most part remained the “daughter” of foreign banks and large private banks.

According to reporting banks on October 1, analyzed by the publication, the Russians continued to take out Bank currency. So, in September, foreign currency deposits in Sberbank decreased by more than $901 million in VTB for $95 million, in Sovcombank — $55 million

Part taken from the Deposit currency, the Russians carried the “daughters” of foreign banks — Raiffeisenbank ($233 million), ROSBANK ($46 million), UniCredit ($41 million).

Experts attribute the continuing outflow of funds from Sberbank and VTB, with the expectation of tightening sanctions from the United States. “Investors used to consider investments in these banks as very reliable, but the news about the possibility of the ban on transactions in US dollars has shaken that confidence on the part of customers, — says head of Department validation “Expert RA” Stanislav Volkov. Unlike AB “Russia” and SMP Bank, which came under such restrictions earlier, Sberbank and VTB have a large volume of cross-border business and vulnerable to such harsh sanctions.”

According to experts, in the current situation customers are considered “daughters” large foreign banks “safe haven”.

“Sanctions risks at this time were not just heard, but in their favor “voted” investors, and in broad masses and not just the VIP customers,” says independent Bank analyst Kirill Lukashuk.

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