VTB refused to deposit in euros

VTB stopped accepting deposits in euros, according to the website of the credit institution. Starting from October 8, only accumulative and savings accounts in European currency are available to customers. The bank will continue to fulfill obligations on already opened deposits in euro.

• In September, Sberbank, Avangard, Citibank, Alfa-Bank, Rosbank, Otkritie and Raiffeisenbank refused to deposit in euros, reminds RBC.
• For Russian banks, such deposits became unprofitable due to negative rates on deposits in Europe. Banks are forced to place funds at a cost to themselves, and it is impossible to charge customers for attracting deposits, this is contrary to the Civil Code.
• Credit institutions asked the Central Bank to allow negative rates, the regulator promised to think about it.
• Several of the top 10 banks still have euro deposits. For example, in Rosselkhozbank, Gazprombank, Moscow Credit Bank and Unicredit.