The amount of funds from corporate clients of the Hungarian bank increased by 6.2% – up to 110.5 billion rubles.
The Hungarian OTP Bank (OTP Bank) became the main means of settlement between the Russian Federation and the EU after the Austrian Raiffeisen Bank stopped transfers. This was reported by The Moscow Times.
The main bank of the OTP did not have time to process transactions due to the influx of clients of the legal entity was even returned to Russia;
According to OTP’s internal regulations, the maximum transaction period is 10 days. If the primary bank does not complete the transaction in time, the funds will be returned.
On September 2, Raiffeisenbank stopped making advance money transfers for all clients except large and international corporations. Raiffeisenbank announced the planned restrictions in advance. In August, the account balances of non-state companies fell by 9.6% – to 531 billion rubles. During this period, the amount of funds from corporate clients of OTP Bank increased by 6.2% – up to 110.5 billion rubles.
It should be noted that Raiffeisen Bank International announced on July 30 that it will continue to reduce its large and profitable business in Russia in accordance with an agreement with the European Central Bank.
Source: korrespondent
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