Bloomberg: Sberbank’s Foreign Currency Deposits Down $1.2bn

24 September 2018 (10:31)

UrBC, Moscow, September 24, 2018. Russian nationals withdrew $1.2bn from their foreign currency deposits at Sberbank in August 2018, Bloomberg refers to the Bank of Russia and Frank RG as stating.

‘The overall outflow in the banking sector on the whole reached $1.5bn. Russia’s largest bank has lost nearly 10% of its retail deposit volume (as far as foreign currency deposits are concerned) since the start of the year. The banking sector on the whole shrank by 5.9%,’ the agency says.

It is believed Russians have been withdrawing their dollar deposits because of all the apprehensions related to the recent sanctions on state-controlled Russian banks.

Other materials on the topic::