Departure of a part of foreign banks from Russia. What is important to know

Several foreign banks with subsidiaries in RUSSIA said they were considering various scenarios for curtailing business in the country.How this may affect their customers - in the material of RBC

Some Western banking groups with Russian subsidiaries are considering curtailing business in Russia in one form or another against the backdrop of Western sanctions against the financial sector. Tougher statements are made by banks that have only corporate business in the country and are outside the top 50, more cautious ones are made by large banks with retail clients. RBC figured out how this could affect the banking sector and clients of credit institutions.

Which of the "foreigners" announced his departure or thought about it

Goldman Sachs has become the first global bank to announce the winding up of business in Russia after the start of military operations in Ukraine. The need for care was explained there by "regulatory and licensing requirements." Goldman Sachs Bank, a 100% subsidiary of the American group, ranked 130th in terms of assets (22.5 billion rubles) as of February 1, according to the banki.ru ranking. The bank does not work with individuals, it specializes in investment banking, that is, support and financing of transactions, foreign exchange transactions and securities transactions.

Other investment banks also announced plans to curtail business in Russia - the American JP Morgan Chase , the German Deutsche Bank and Commerzbank . Their Russian "daughters" - "J. P. Morgan Bank International (98th place, 44.2 billion rubles of assets), Deutsche Bank (58th place, 119.4 billion rubles of assets) and Commerzbank (Eurasia) also do not serve individual clients. They specialize either in investment banking or in working with corporate clients, mostly foreigners.

Banks that have subsidiaries in Russia with a focus on retail are more cautious in their statements.