VIP clients are in panic

Russian banks, which suffered the most from capital outflows during the worsening global financial crisis, fell victim to VIP clients rather than ordinary depositors. This was stated by Deputy General Director of the Deposit Insurance Agency Andrey Melnikov, Lenta.ru reports.

According to Melnikov, bankers from the affected financial institutions complained to the DIA about depositors who kept from 10 to 200 million rubles in their accounts and who had the right to special conditions for storing their funds. In the event of bankruptcy of a financial organization, the state is guaranteed to pay depositors only 700 thousand rubles. This means that large deposits of VIP clients are almost not covered by insurance.

An official from the Deposit Insurance Agency also said that in some banks the outflow was so significant that VIP clients had to order special cash collection vehicles - it was impossible to carry so much money in their bags.

According to Central Bank statistics, during September the net outflow of funds from Russian financial organizations amounted to 90 billion rubles, and in October - 354 billion rubles. In November, the outflow slowed down significantly, but there is no exact data from the Central Bank yet.

In the context of a massive outflow of deposits, the Central Bank revoked the licenses of several Russian financial organizations that were part of the Deposit Insurance System. In particular, Tyumenenergobank lost the right to carry out core operations. The DIA will pay a little less than five billion rubles to the depositors of this financial organization.