Bank Aval continues to cut staff

by Editor • 02.02.2016 • 0 Comments

Raiffeisen Bank Aval continues to undergo massive layoffs, according to Peter Lennk, a member of Austria's Raiffeisen Bank International.

The banker also noted that several hundred bank branches have been closed in Ukraine. As Peter Lennk noted for Wirtschaftsblatt, his financial institution closed some branches in Donbas due to military action.

As of the end of the first quarter of 2013, Ukrainian Raiffeisen Bank Aval employed 13,787 employees and the bank’s branch network included 822 offices.

However, in the third quarter of 2015, the network employed 10,308 employees and there were only 617 Raiffeisen Bank Aval banking branches in Ukraine.

The banker stated that staff and branch reductions will continue in 2016. Peter Lennk stated that his bank has two priorities in Ukraine: agribusiness and international companies.

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