SarovBusinessBank begins operations in yuan
NIZHNY NOVGOROD. July 24 (Interfax) - SarovBusinessBank, which is located in the Nizhny Novgorod region, has begun operations in yuan, the bank said in a press release.
The clients, who are legal entities, can open settlement accounts in the Chinese currency, carry out non-cash operations and conduct conversion operations. Legal entities can carry out yuan transfers without opening an account at the bank. The service is offered at all bank branches.
SarovBusinessBank's clients still have access to operations in major foreign currencies such as the U.S. dollar, euro, British pound, and others.
SarovBusinessBank currently has 19 branches in the Nizhny Novgorod region, and others in Moscow, Vladimir, Cheboksary and Syktyvkar.
SarovBusinessBank was Russia's 119th largest bank by assets, according to the Interfax-100 ranking at the end of H1 2014.
