Another Kazakh bank has terminated relations with Russia

Kazakhstan Home Credit Bank stopped working with the "daughter" of the Russian VTB bank in Kazakhstan. This is reported by Sputnik.

"Any transfer operations in tenge and foreign currency on customer accounts to/from VTB Kazakhstan have been terminated," the information of the Kazakh bank says.

The bank justified this decision by "excluding the risks of applying secondary sanctions, including against the bank's customers."

"Due to the international sanctions imposed on VTB Kazakhstan, Home Credit Bank has decided to terminate its interaction with VTB Kazakhstan in order to eliminate the risks of applying secondary sanctions, including against the bank's customers. In this regard, any transfer operations in tenge and foreign currency on customer accounts to/from VTB Kazakhstan have been terminated," the financial institution further said in a statement.

VTB is the only Russian bank that has a "daughter" in Kazakhstan.

Earlier, four more Kazakh banks stopped cooperating with Russia.