Contents tagged with VTB
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Corporate clients withdraw $10 billion from Russian banks
For the second consecutive month, the Russian banking sector has experienced an outflow of foreign currency from the accounts of major corporate clients, who are rapidly spending or withdrawing the dollars and euros, reports finanz.ru.
In July, legal entities withdrew another $900 million from current accounts and emptied a similar amount from foreign currency deposits. A month earlier, the outflow was a three-year record: $4.4 billion flowed out of deposits and $3.6 billion from current …
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Ukraine's National Bank fines Sberbank's subsidiary
The National Bank of Ukraine (NBU) press service reported that the NBU fined Sberbank’s subsidiary in the amount of 94.7 million hryvnias (more than 3.4 million) for violating financial monitoring legislation.
It is noted that the Ukrainian regulator fined Sberbank “for repetitive risky behavior in the field of financial monitoring for a total amount of over 3 billion UAH” (over $108 million).
According to the NBU, Sberbank allowed continuous major financial cash withdrawals from corporate …
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Russian state banks appeal shares arrest in Ukraine
Banks with Russian state capital filed cassation appeals against the decision of the Kyiv Court of Appeals to seize their shares. As FinClub news outlet writes, the corresponding appeals were received by the Supreme Court of Cassation on September 14.
Russian VTB Bank, Prominvestbank and Sberbank still operate in Ukraine. It was reported that the Ukrainian Court of Appeal decided to seize the shares of their subsidiaries under the dispute initiated by the Ukrainain banks. In response, Sberbank …