RBI to Shut Down Affiliates on Crimea

People ♦ Published: April 7, 2014; 10:59 ♦ (Vindobona)

The Ukrainian affiliate of Raffeisen Bank International (RBI) is closing all its affiliate on Crimea until mid-April.

Raiffeisen Bank Aval will close the remaining affiliates on Crimea. / Picture: © Raiffeisen Bank International AG / S. Klimpt

Until the middle of the months RBI will shut down all its affiliates on Crimea due to the political crisis between Ukraine and Russia. As reported by Reuters, a spokeswoman of the Austrian lender confirmed the plans of closing the remaining six branch shops on Crimea. Raiffeisen Bank Aval had run 32 affiliates on the peninsula in the past.

According to the spokeswoman of RBI, the…