Russia Deposit Fight Sees Foreign Banks Seeking New Clients
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Oksana Semenikhina, a customer of Citigroup Inc.’s Russian unit for the past decade, got an offer from the lender this year that she couldn’t pass up.
“They offered to open a ruble term deposit for me at 9 percent interest, through a mobile application,” said the 31-year-old marketing manager in Moscow. “Previously, the rate was never higher than 5 percent, and you had to go to the office to do a lot of paperwork.”