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Russia's Promsvyazbank sees client funds drop 31% in a month

Total client funds at Russia-based PAO Promsvyazbank stood at 658 billion Russian rubles on Jan. 1, down 31% from 950 billion rubles the previous month, Reuters reported Feb. 1, citing its analysis of central bank data.

Promsvyazbank was rescued by the Russian central bank in December 2017. Classified as one of Russia's systemically important banks, Promsvyazbank is the country's ninth-largest lender in terms of assets.

As of Feb. 1, US$1 was equivalent to 56.16 Russian rubles.