In a note addressed to customers, the chairman of the board of directors of VTB Africa, Igor Skvortsov, underlines that as part of the Russian international banking group VTB, the Angolan institution was also affected by the sanctions.
VTB Africa's recommendation to its clients is to refrain from carrying out operations for the receipt of export earnings, foreign exchange operations, international payments for the importation of goods and services, as well as the payment of salaries to expatriate employees.
However, the president of VTB Africa says that "this new sanctions package allows the bank to participate in operations that normally occur and are necessary for the closure of operations, contracts or others that were in force until the date of imposition of the same".
The note informs that the bank continues to provide the main banking financial services, maintaining a high level of liquidity and capital.
"The restrictions adopted do not affect the security and availability of customers' funds in national currency. The bank is making its best efforts to guarantee the security and safeguarding of the interests of its customers, in order to protect them from possible losses", reads the information.
"Having said that, we reiterate that Banco BTV África is looking for a lasting solution to the present situation, which allows us to return to normality, with regard to the continuity of service provision and the availability of high-level banking products, that we have already accustomed our esteemed customers and that are a reference in the Angolan financial system", highlights the note.
Lusa contacted the management of VTB Africa and the National Bank of Angola to obtain further clarification on this matter and the alternatives proposed to customers, with no response so far.
According to the last management report for the year 2020, consulted by Lusa, the bank had, at the end of 2020, a portfolio of 3974 customers, of which 450 companies and 3524 private entities.
VTB África is a commercial bank with three specific areas of activity, namely, investment banking, corporate and retail, with the retail area having the objective of serving only the employees of the companies, which are its customers.
In 2020, around 60 percent of the credit granted, totaling 10.6 billion kwanzas, was directed to the mining sector (6.3 billion kwanzas), according to press reports at the time.
VTB Africa started its activity in Angola in 2006, with VTB Moscow, Russia's second largest bank, as its main shareholder.
In the early hours of February 24, Russia launched a military offensive in Ukraine that caused at least 406 deaths and more than 800 injuries among the civilian population and caused the flight of more than two million people to neighboring countries, according to the latest data. of the UN.
The Russian invasion was condemned by most of the international community, which responded by sending weapons to Ukraine and reinforcing economic sanctions on Moscow.
