Rosbank lays off Urals-based employees

23 March 2012 (09:49)

Rosbank’s Ural Federal District branch announced that its reorganization is now complete. The bank’s Ural subsidiary located in Yekaterinburg was set up through a merger of regional subdivisions. However, this was accompanied by redundancies, Rosbank’s First Deputy Chairman of the Supervisory Board Igor Antonov explained to reporters in the course of a press conference.

‘We have re-evaluated our risks approaches, and our terms have grown stricter. We had to stop doing business with some of the borrowers, which resulted in fewer overdue loans. We have also switched to a forceful reduction of administrative and maintenance expenses, for one, those relating to the network maintenance. Since 2007, our strategy has been aimed at reducing the network’s operational load. This means our subsidiaries will be converted to operational offices,’ Antonov said.

At the same time, the bank is cutting down on the number of inefficient outlets. To reduce both the outgoings and the network load, the bank’s additional outlets will now employ only the customer service clerks.

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