Ukrainian banks closing their branches in Crimea

10 April 2014 10:03

Amid current situation in Crimea, that recently secede from Ukraine to join Russian Federation, Ukrainian banks are closing their branches in the region.

Among those, who already closed their Crimean offices are Privat Bank, Raiffeisen Bank Aval, Bank Pivdennyi, Bank Khreshchatyk and others.

Raiffeisen Bank Aval, in which Austrian Raiffeisen Bank International holds 96.41 percent of shares, will close the last remaining six of 32 branches the bank had in Crimea by April 15, a spokeswoman told Reuters.

"We will indeed close all our Crimean branches," she said, without providing any further detail.

To recall, earlier, McDonalds said it was temporarily closing its three restaurants in Crimea, explaining the move with "operational reasons beyond our control."