October 26, 2017 / 3:58 PM / in 24 days

Corporate depositors keep faith with Russia's top banks

    MOSCOW, Oct 26 (Reuters) - Russian companies are sticking
with the country's biggest banks despite turmoil in the sector,
with total corporate deposits at the top ten banks little
changed on Oct. 1 from a month earlier, according to an analysis
of central bank data. 
    The Russian banking sector is under scrutiny after the
central bank took over two major private lenders, Otkritie and
B&N Bank, in less than a month.
    The information on flows of customers funds is based on
figures provided by commercial banks to the central bank.
Reuters collated the data using web-based aggregator kuap.ru, a
financial analytical tool used by Russian credit analysts.
    According to the data, the largest outflow of corporate
deposits and corporate current accounts in percentage terms was
at Otkritie. Corporate customer funds were down 13.2 percent as
of Oct. 1 from a month earlier, a drop of 60.4 billion roubles 
($1.05 billion).
    Otkritie was taken over by the central bank in August,
citing a hole in its balance sheet. It remains among the
country's top ten biggest lenders by assets. 
    Otkritie did not immediately reply to a Reuters request for
a comment on Thursday. 
    In rouble terms, the biggest outflow was at state bank
Sberbank, which lost 111.2 billion roubles in
corporate customer funds. But in percentage terms, it was down
just 1.8 percent. Sberbank is Russia's largest bank by assets. 
    In an emailed reply to Reuters' questions, Sberbank said the
outflows were insignificant for the bank and that it sees
inflows from corporate clients in the form of the foreign
currency funds in October. 
    Russia's second biggest bank VTB, and third-largest
Gazprombank, saw inflows.  
    According to a research note by Raiffeisenbank, the flows at
Russia's largest three banks could be linked to higher deposit
rates at VTB and Gazprombank compared with Sberbank. 
    "We do not see significant clients' outflows from
systematically important banks," Irina Nosova, deputy director
for the banking ratings group at ACRA, Russia's domestic ratings
agency, said in emailed comments. 
    Below is table showing the change in corporate deposits and
corporate current accounts as of Oct. 1 compared with Sept 1.
Banks are ranked by their assets.     
    
                    Oct change vs   Change in bln rbls 
                     Sept, pct      
    Sberbank            -1.81            -111.24 
       VTB              2.87              154.86
   Gazprombank          1.05               32.27
  Rosselkhozbank        -0.25              -3.52
    Alfabank            -5.24             -59.15
    Otkritie           -13.18             -60.44
  Credit Bank of        5.22               39.00
      Moscow                        
  Promsvyazbank         -1.06              -6.58
    Unicredit           -0.48              -2.59
     Rosbank            2.51               6.95
  Raiffeseinbank        -4.80             -11.90
   ($1 = 57.6950 roubles)

 (Reporting by Elena Fabrichnaya and Andrey Ostroukh; Writing by
Katya Golubkova; Editing by Mark Potter)
  

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