“Society and Banks” is announcing a statement about the US and EU sanctions against Russian bank VTB.
The sanctions will not directly effect on Georgian customers, because the branch of VTB in Georgia is independent financial and legal unit. It has its own capital, which was recently increased by VTB’s stockholders. Georgian consumers won’t face any problems about deposits or credit products.
We believe, that at this moment Georgian consumers don’t have any reason to panic and can quietly cooperate with bank. However these sanctions can impact on Georgian branch in future, because its mediator banks are American and European banks and they can impose some restriction on international transfers.