ZAO Raiffeisenbank’s Board of Directors decided to close down seven of the company’s provincial subsidiaries and convert them into offices instead. The decision was aimed at enhancing the bank’s regional network’s operational efficiency as well as at introducing more services in Raiffeisenbank’s provincial representations.

This means that the bank’s Volgo-Vyatskiy subsidiary based in Kirov and the subsidiaries based in Izhevsk, Kazan, Saransk, Saratov, Cherepovets, and Smolensk will close down this year.