After an announcement of tax imposition on personal deposits on March 5, 2020, Russian banks recorded a significant outflow of personal deposits both in national and foreign currencies from their accounts. VTB was leading with over 18 billion and 1.5 billion Russian rubles and U.S. dollars lost in personal deposits, respectively, as of April 1, 2020. Consequently, due to the need of immediate liquidity, the entity borrowed over 250 billion Russian rubles from the Central Bank of Russia in March of the same year.
Change in personal deposits in Russian banks as of April 1, 2020, by currency and major bank
(in billions)
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RBC.ru. (May 2, 2020). Change in personal deposits in Russian banks as of April 1, 2020, by currency and major bank (in billions) [Graph]. In Statista. Retrieved November 20, 2024, from https://www.statista.com/statistics/1114661/volume-of-lost-personal-deposits-by-russian-banks-by-currency/
RBC.ru. "Change in personal deposits in Russian banks as of April 1, 2020, by currency and major bank (in billions)." Chart. May 2, 2020. Statista. Accessed November 20, 2024. https://www.statista.com/statistics/1114661/volume-of-lost-personal-deposits-by-russian-banks-by-currency/
RBC.ru. (2020). Change in personal deposits in Russian banks as of April 1, 2020, by currency and major bank (in billions). Statista. Statista Inc.. Accessed: November 20, 2024. https://www.statista.com/statistics/1114661/volume-of-lost-personal-deposits-by-russian-banks-by-currency/
RBC.ru. "Change in Personal Deposits in Russian Banks as of April 1, 2020, by Currency and Major Bank (in Billions)." Statista, Statista Inc., 2 May 2020, https://www.statista.com/statistics/1114661/volume-of-lost-personal-deposits-by-russian-banks-by-currency/
RBC.ru, Change in personal deposits in Russian banks as of April 1, 2020, by currency and major bank (in billions) Statista, https://www.statista.com/statistics/1114661/volume-of-lost-personal-deposits-by-russian-banks-by-currency/ (last visited November 20, 2024)
Change in personal deposits in Russian banks as of April 1, 2020, by currency and major bank (in billions) [Graph], RBC.ru, May 2, 2020. [Online]. Available: https://www.statista.com/statistics/1114661/volume-of-lost-personal-deposits-by-russian-banks-by-currency/
