MOSCOW, April 29 Russian bank SMP will focus on
domestic transactions after sanctions applied by the United
States on Monday prevented it from accepting deposits in foreign
currencies, it said on Tuesday.
The bank will focus on corporate clients, on offering loans
in roubles, and on mortgages, it said in a statement.
SMP is co-owned by Boris Rotenberg and his older brother
Arkady, who own 38.05 percent each according to the bank's
website. The Rotenberg brothers, who received large contracts
for the Sochi Winter Olympics, were hit with sanctions by
Washington in the previous round of punitive measures announced.
SMP said in a statement that SMP's shareholders are not
looking to sell the bank and are ready to provide additional
support if needed.
(Reporting by Megan Davies; Editing by Ruth Pitchford)