Andrei Goncharov
Chief Executive Officer, OJSC Pervobank
Indeed, some inflow of deposits to the subsidiaries of foreign banks has occurred. This is partly the result of increasing the share of currency in savings of the population after the recent devaluation trends, in part - a way to minimize the risks. However, it must be borne in mind that these changes are insignificant compared to the total market size. In Pervobank, since the beginning of the year we see +10% increase in deposits at the level of the market.
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Stepan Tchitipakhovyan
Chief Executive Officer, Transstroybank
Perfectly possible. But it is not completely clear to what extent this information is true. It is an open secret that the sanctions introduced by the foreign countries impacted both the economy of the entire country and the banking sector in particular. But it is unlikely to lead to a strong inflow of deposits in the subsidiaries of foreign banks. It is logical to assume that in order to avoid problems due to possible sanctions it would be safer for the people of Russia to place their savings in Russian banks, which brings this information into question. Moreover, in case of the introduction of counter sanctions against the foreign owned banks many residents of Russia would clearly give priority to domestic credit institutions than to the foreign ones. However, it is difficult to predict how further geopolitical situation on the global stage will develop.
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Aleksey Ovchinnikov
Vice-President, Ural Bank of Reconstruction and Development
I do not think this is related to introduction of sanctions. If we look at the Russia-wide indicators, we can see that the July increase in deposits throughout the banking system amounted to 2% and the growth dynamics of subsidiaries of foreign banks fits into this trend.
Two western banks became the only exceptions in July – increase of their contributions percentagewise was higher compared to nationwide ones. However, these banks have insignificant deposit portfolio.
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