Men walk past an office of Sberbank in Moscow. Reuters
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Russia's largest lenders, state-owned Sberbank and VTB, saw outflows of foreign currency deposits in August amid a ruble depreciation and concerns about new U.S. sanctions, according to an analysis of central bank data.The amount of foreign currency that retail clients held in Sberbank, Russia's No. 1 lender, declined by $1.1 billion in August to $33 billion, while the bank's corporate FX deposits shrank by $2.2 billion to $55 billion.Russia's fourth-largest state-owned lender Rosselkhozbank, however, saw corporate FX deposits rising to $5.93 billion by the end of August from $5.72 billion a month earlier.Alfa Bank, Russia's fifth-largest lender by assets and the largest among nonstate banks, saw corporate FX deposits rising by $160 million to $6.38 billion as of end-August.
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