VTB disables phone lines for European customers after large number of requests

The VTB bank logo is seen at the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 3, 2021. REUTERS/Evgenia Novozhenina

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FRANKFURT, March 7 (Reuters) – The consumer online banking division of Russia’s VTB (VTBR.MM) in Europe has turned off its phones due to high call volumes and is asking customers to send emails to the place, according to a notice posted on its website. Monday.

Reuters reported last week that regulators were bracing for a possible shutdown of the European branch of Russia’s second-biggest bank amid growing concerns about the impact on it of Western sanctions following the invasion of the Ukraine. Read more

German regulator BaFin has banned the bank from taking on new customers and VTB has sought to reassure customers that it is stable and fully operational.

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In Monday’s notice on its website, VTB said it had tried to be “personally” available, but “due to the large number of inquiries this is hardly possible any longer.”

“For this reason, we have decided to temporarily discontinue our availability by telephone and ask that you send us your requests by e-mail,” the bank said.

VTB did not immediately respond to an email seeking comment.

The bank has more than 4 billion euros ($4.36 billion) in deposits in Europe, mostly in Germany.

($1 = 0.9179 euros)

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Reporting by Tom Sims; Editing by Jan Harvey

Our standards: The Thomson Reuters Trust Principles.

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