Raiffeisenbank announced the termination of the issuance of car loans from March 25

From March 25, Raiffeisenbank stops issuing loans for the purchase of cars, as well as refinancing car loans. It is reported by Interfax with reference to the bank’s message.

As noted in the message, such a decision is associated with negative trends in the domestic automobile market, indicating the extremely low potential for the development of this business in Russia in the medium term.

In addition, the bank plans to restructure the regional network until October 30, 2015, closing the branches in 15 cities of Russia.

It is noted that the optimization of the network will affect, first of all, customers-individuals, as well as
Small and microbusiness companies. With corporate clients, the bank will continue cooperation on a remote basis, they will be invited to open accounts in other cities of presence.

At the same time, by the end of 2015 it is planned to open 6 new departments in Moscow.