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Sberbank to charge commission on corporate forex deposits, CEO says

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© Reuters. FILE PHOTO: The logo is on display in an office of Sberbank in Saint Petersburg, Russia April 19, 2022. REUTERS/REUTERS PHOTOGRAPHER

(Reuters) – Russia’s largest lender Sberbank will charge commission on foreign exchange deposits for corporate clients this year and could do the same on individuals’ accounts in 2023, CEO German Gref said on Friday.

Despite criticism from the central bank, Russian banks are starting to charge clients on their forex accounts trying to de-dollarise the financial system after Western sanctions which largely cut off banks’ access to the global financial system.

Sberbank to charge commission on corporate forex deposits, CEO says

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