Russian banks withdrew from Europe and the United States 500 billion rubles

Domestic financial institutions under sanctions, withdrawal of funds from abroad and significantly reduce the volume of lending by foreign banks

Russian banks actively withdrawn funds deposited in the accounts of foreign credit institutions. From April 1 to September 1 of this year, the amount of funds placed with Russian banks abroad, mainly in the USA and the EU countries decreased from 4.5 trillion to $ 4 trillion. It follows from the statements of credit institutions, published by the Central Bank (I-101 form).

The most actively withdraw funds from correspondent accounts of foreign banks, credit institutions, came under sanctions: Gazprombank (shot 48.4 billion rubles, balances reached 70.2 billion), VTB (brought 39.5 billion rubles, the remains - 38600000000) and Agricultural Bank (16.7 billion rubles and 17.8 billion respectively). The top 10 banks, which brought with correspondent accounts of foreign credit institutions significant amount also includes Nomos Bank, Credit Bank of Moscow, the bank “Banca Intesa” MTS-bank Surgutneftegazbank, and UniCredit Bank “Renaissance Credit” (see. Table). “Daughters” banks from the sanctions list also showed activity in the withdrawal from correspondent accounts in foreign banks. For example, Bank of Moscow, which is part of the VTB Group, took 2.1 billion rubles, the remains of 2.8 billion. “Daughter” VEB - Communication-bank withdrew 1.8 billion rubles, the remains amounted to only 258 million rubles.

Head of Research Bank BKF Osadchiy Maxim believes that the main reason for withdrawal of Russian banks funds from foreign credit institutions - the sanctions imposed by Western countries, especially since the largest volumes of output fell just on banks that fall under the sanctions.

- There is a threat to the safety of the funds of Russian banks in non-resident banks, because these funds can be frozen - says Osadchiy. - In addition, the sanctions have led to a reduction in the activity of Russian business abroad, respectively, and reduced the amount of funds on correspondent accounts with Russian banks in non-resident banks, necessary to carry out the relevant payments.

According to a leading expert on bank ratings “Expert RA” Alexander Sarajevo, before the end of 2014 the presence of Russian banks in the West will be gradually reduced, but this will not lead to the complete withdrawal of assets: the banks are hoping to ease foreign policy factors and the continuation of mutually beneficial cooperation with foreign partners.

As pointed out by the director of financial and analytical department of the Security Bank Alexey Koltyshev, lenders are cutting investment in foreign assets, fearing sanctions regime.

- In foreign banks placed excessive liquidity, which is now becoming less - says a senior analyst at the National Rating Agency Maxim Vasin. - As for the banks, have come under the sanctions, they can stop working with foreign banks for political reasons. Partially work with foreign banks was conducted in order to attract investment in Russia, as well as in the Eurobond market ……

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