Raiffeisen Bank Aval to Seek 20 Per Cent Market Share of Ukraines Retail Banking Market

18. Oktober 2006, 00:00

Raiffeisen Bank Aval, the Ukrainian subsidiary of Raiffeisen International Bank-Holding (RI), unveiled plans to raise...

Raiffeisen Bank Aval, the Ukrainian subsidiary of Raiffeisen International Bank-Holding (RI), unveiled plans to raise its share on retail banking services market to 20 per cent, RI CEO Herbert Stepic said.

Stepic was talking to participants of the Day of the Capital Markets conference, held late last week in Kyiv. The event, organised by RI, gathered international analysts and investors, to discuss the prospects for development of the local banking market.

Stepic noted that the growth pace of Ukraines bank market is outstripping that in other emerging economies and believes further growth is to be expected.

Meanwhile, deputy CEO of Raiffeisen Bank Aval, Rainer Sichert, noted that the bank would finalise restructuring of branch network next year, whose result would be three sub-networks. The first would be catering to small and medium enterprises, the second to VIP clients, and the third to mortgage clients.

Stepic specified there would be no increase in the number of outlets following the restructuring.

Again next year, the bank is set to finalise the interconnection of its branches via the Bankmaster RS software, Sichert said.

The bank held a second place among Ukraines 166 banks as of July.

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