17:56 27.03.2018

Raiffeisen Bank Aval intends to step up development in coming years

2 min read
Raiffeisen Bank Aval intends to step up development in coming years

Raiffeisen Bank Aval (Kyiv), which earlier was a potential bank for sale, seeks to step up development in the coming years, First Deputy Board Chairman Gerhard Bösch has said.

"In the past two years we showed a marked increase in Ukraine and we have ambitious plans regarding business growth in the next three years," he said at a press conference in Kyiv on Tuesday.

Bösch did not give the details of the plans. He expressed doubt that the previous plans of Raiffeisen Bank International AG (RBI, Austria) to sell the Ukrainian subsidiary are remain in force.

"I do not know if these negotiations are held. They were held in 2013 and were stopped along with the events in Maidan. In 2017, Raiffeisen Bank Aval showed itself as the most profit-making bank in the RBI group. We consider ourselves the best asset in the group, and as a rule, these assets are not sold," he said.

Raiffeisen Bank Aval was founded in 1992. As of June 30, 2017, Raiffeisen Bank International (RBI, Austria) owned 68.28% of the Ukrainian bank's charter capital, while the European Bank for Reconstruction and Development (EBRD) held 30%.

Raiffeisen Bank Aval ranked fifth in terms of assets worth UAH 72.108 billion among 84 operating banks as of January 1, 2018, according to the National Bank of Ukraine.

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