Large Russian Bank massively closes offices in Ukraine

Russian VTB Bank massively is closing its branch in Ukraine

This was stated by its head Andrey Kostin on the sidelines of a Russian investment forum, writes “RIA Novosti”.

“We actually turn to summer activities in full, we will have only one or two offices in Kiev. We are now in a very tough closing branches across the country and pay off with all investors”, – he stressed.

We will remind, on March 15, 2017 the President of Ukraine Petro Poroshenko enacted the decision of national security Council and defense of Ukraine, that is, imposed sanctions for one year for public joint stock company “savings Bank”, PJSC “Vs Bank”, PJSC “joint-stock commercial industrial-investment Bank”, PJSC “VTB BANK”, PJSC “BM BANK”.

Penalties apply to prevent withdrawal of capital abroad. In particular, it is prohibited any operation in favor of the parent banks, as interbank loans, deposits, subordinated debt, placement of accounts on correspondent accounts, etc. Also introduced a ban on the payment of dividends, interest.

“Sberbank” called the decision discriminatory and politically motivated. March 28, the Russian Sberbank announced the sale of all shares of the Ukrainian subsidiary Bank.

  • Russia
  • bank
  • closing
  • VTB Bank
  • department

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