25 Feb 2022 03:43

Sanctions not to have significant effect on operations of Otkritie bank and its affiliates - statement

MOSCOW. Feb 25 (Interfax) - The United States sanctions will not have a substantial effect on operations of the Otkritie bank and its affiliates, as the bank was prepared for such developments, Otkritie said in a statement.

The U.S. on Thursday included Sberbank , VTB , Sovcombank, Novikombank, and Otkritie on its sanction list.

"We have a large reserve of capital, liquidity, and cash, including in foreign currency. The bank has all the necessary technological capabilities for its uninterrupted operations. The restrictive measures imposed on it will not affect the accounts and deposits of its individual and corporate customers denominated both in Russian rubles and in foreign currencies, including euros and U.S. dollars. We reaffirm that we keep honoring our obligations to all customers," the bank said.

"The sanctions have not affected any transactions in Russia. To this end, our clients can use all the usual channels, such as offline offices, ATMs, mobile and Internet banking. All Otkritie bank cards, including those of the Visa and Mastercard international payment systems, remain operable to pay for goods and services or withdraw cash throughout Russia. The restrictions introduced will affect the use of bank cards abroad," the bank said.

Otkritie said it would continue to service brokerage accounts as well.