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Two subsidiaries in Yekaterinburg are inexpedient, Raiffeisen Bank reports


25.09.2008. : public
The bank runs two subsidiaries in Yekaterinburg now; they are called Ural and Yekaterinburg, the latter being based on Impexbanks subsidiary after the bank merged with Raiffeisen Bank in November 2007. The decision to close down this subsidiary has been brought about by our efforts to improve on the banks local subsidiary network. In fact, having two subsidiaries of one and the same bank within one city is economically inexpedient; it makes much more sense to have one subsidiary with several offices. This is why Raiffeisen Bank will only have one Ural subsidiary in Yekaterinburg starting December 12, 2008, says Raiffeisen Banks Ural Regional Centers Director Vitaliy Milovanov.

The majority of personnel from the banks Yekaterinburg subsidiary are already working at the Ural one, he adds.