VTB (MCX:VTBR) has completed the transfer of clients’ foreign securities to other financial organizations, RBC reports citing the bank’s press service.

“Clients’ securities were transferred to more than 50 professional securities market participants,” the credit organization said.

However, about 500 VTB clients had problems with the transfer of some foreign securities, as they were not serviced by the National Settlement Depository (NSD) and were recorded on the client account of the nominee holder – VTB’s depository – directly with foreign superior depositories Euroclear Bank S.A./N.V and Citi.

“Such securities became unavailable for transfer due to sanctions against VTB. The Bank is working out solution options for clients with blocked securities and will provide them with all necessary assistance to resolve this issue,” the press service said.

Foreign securities with a listing on the Moscow Exchange and SPX Exchange, as well as those accepted for servicing in a Russian depository and traded on the over-the-counter market, were accounted for in the Russian infrastructure – NSD. There were no problems with the transfer of such securities, they were transferred to other brokers through nominee accounts – between VTB’s depository and depositories of other brokers within the Russian infrastructure, the bank explained.