Russia’s largest lender, Sberbank, said on Friday that sanctions on its operations meant that its customers would not be able to transfer funds in certain foreign currencies to accounts at other banks, both in Russia and abroad. Unprecedented Western sanctions hit the heart of Russia’s financial system over events in Ukraine, and Sberbank was among […]
Tag: VTB Bank
Reuters: HSBC instructs staff to start closing transactions with VTB Bank
The British bank HSBC is starting to end its relations with a number of Russian banks, including the second largest, VTB, according to a document held by Reuters. The United States, Britain, Europe and Canada announced new sanctions on Russia on Saturday, including barring some banks from accessing the international SWIFT payment system. The document […]
VTB Bank: Profits increased for 2021
VTB Bank announced that net profits and total assets for 2021 have increased. The Russian bank said net profit stood at 242.6 billion rubles ($ 3.18 billion) and that net interest income rose 24 percent year on year to 586.1 billion rubles. The bank said this was mainly due to the increased loan portfolio and […]