Sberbank sees strong fall in demand for cash in Russia

MOSCOW, Apr 2 (PRIME) -- Russia’s largest bank Sberbank has registered a sharp fall in people’s demand for cash rubles and foreign currencies, the bank said in a statement on Thursday.

“Demand for operations with cash rubles and foreign currencies in Sberbank is seen below the standard level,” the bank said.

In the first half of the week, cash withdrawal operations fell 70% in the bank’s outlets and 28% in automatic teller machines (ATMs), withdrawal of U.S. dollars dropped 25% on the week.

First Deputy CEO Alexander Vedyakhin said the dynamics stem from higher level of Russians’ financial awareness and the regime of self-isolation introduced in many regions of the country.

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