Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Depositors Relocate RUR 430 BLN Into Bigger Banks
20.12.2013 17:55
Depositors Relocate RUR 430 BLN Into Bigger Banks
Photo Credit: http://politikus.ru

Smaller Russian banks saw a capital outflow worth RUR 430 billion in November 2013 amid fears of further shakeups in the national banking sector, Vedomosti cites a report by Fitch.

      According to the business daily, customers relocated their deposits from minor banks to bigger ones, like Sberbank, VTB, Gazprombank or Unicredibank.

      November saw a growth in the volume of deposits by RUR 498 billion while the Top 100 lenders that control 82 percent of the deposit markets registered an inflow of RUR 928 billion. The difference is considered to be the amount that the smaller banks’ customers withdrew to avoid a possible collapse.

      Starting from July 2013 when Elvira Nabiullina took over chairmanship in Russia’s Central Bank, 25 lending institutions lost their licenses, including Master-Bank.

      To make things worse, the Central Bank has engaged in tough rhetoric, prompting many to reconsider their savings strategies.

      Big banks, including state-run Sberbank and VTB, have been among those who benefited most.

      Sberbank of Russia is the largest bank in Russia and CIS. The founder and principal shareholder is the Central Bank of Russia, which owns 50 percent of the Bank's authorized capital plus 1 voting share.

      VTB Bank is Russia’s second largest lender by assets. Classified as blue chips, VTB shares are among the most liquid on the Russian stock market. The Bank’s securities are traded on Russia’s joint MICEX-RTS Exchange and as global depository receipts on the London Stock Exchange under the VTBR ticker. The Russian government owns 60.9 percent of VTB Bank’s equity. 




Author: Mikhail Vesely

Tags: Russian banks Sberbank VTB   

Next Previous


You might also find interesting:

The FIFA World Cup in Russia has Led to a Sharp Increase in Sales in Various Fields of Businesses
31.07.2018
The Most Popular Offshore Choice of Russians is the British Virgin Islands
20.12.2018
Legal Entities and Individual Entrepreneurs have been Exempted from Fees for Electronic Registration
03.08.2018
The State Support of Russian Winemakers will Increase 2 Times
18.11.2018
Cryptocurrency was Recognizedas as One of the Ways of Laundering Illegal Income
25.03.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Ingushetia  Olympic Games 2012  Moscow  horse tourism  Exhibitions in Moscow  Mercedes-Benz Fashion Week Russia  Boris Nemtsov  Adobe  Wooden Architecture  Education Law  coastal cluster  Perm Territory  synchrotron   Russian history  education  Russian gas  Kazan  Frantz Joseph Land  Chanel  Krasnodar Territory  Censorship  Karelia   Kholuy  St. Petersburg  Moscow Region  Nina Doroshina  Karachay-Cherkessia  Dzhokhar Tsarnaev  Masha and the Bear  Russian tourism  Russian political parties  protest actions  Pavel Scherbov Memorial Estate  Znamenskoye-Rayok  Festivals in Moscow  Sberbank CIB  Heroism   Novosibirsk Oblast  Astrakhan  Russkiy island  Air Transport   Krasnodar region  Sergey Prokofyev  Russian beaches  Russian Literature  Astrakhan Region  Mariinsky theatre  Romanovs Family  Russian Cinema  Russian business 


Travel Blogs
Top Traveling Sites