ASTANA, Kazakhstan, September 11. Home Credit Bank Kazakhstan has halted its operations with VTB Kazakhstan, statement by Home Credit Bank said, Trend reports.
The decision came in response to international sanctions imposed on VTB Kazakhstan.
"Due to the international sanctions placed on VTB Kazakhstan, Home Credit Bank has decided to end its interactions with VTB Kazakhstan to avoid the risks associated with secondary sanctions, including those affecting Home Credit Bank's clients.
As a result, all transfer operations in tenge and foreign currencies to and from VTB Kazakhstan accounts have been halted," the statement reads.
VTB Kazakhstan is a subsidiary of the Russian VTB Group.
In early July, the US added VTB Kazakhstan to a list of entities and individuals whose association could pose a risk of secondary sanctions.