Business news from Ukraine

Business news from Ukraine

Raiffeisen Bank launches underground branches in Kharkiv and Dnipro

Raiffeisen Bank (Kyiv) has opened its first underground branches in Kharkiv and Dnipro, the bank’s telegram channel reported on Friday.
As specified, the underground branches will operate on the basis of existing ones and will serve customers in case of an air alert. Customer service is already available through a separate entrance leading to the underground premises.
“Underground workplaces allow us to ensure continuity of customer service even in the event of air raids. This is especially important in cities that are subject to constant shelling, which is why branches are forced to stop working on the surface for a rather long time,” Artem Nidzelsky, Retail Business Director of the center of the bank’s southeastern region, said in a statement.
According to him, the continuous operation of the branches allows to support local businesses and provide access to financial services. This, in turn, helps to minimize economic losses for entrepreneurs and the population.
“It is also extremely important that the new initiative creates safer working conditions for employees, allowing them to work more confidently and with less stress,” emphasized Nizelsky.
Underground branches provide all banking services as well as traditional branches, including account opening, deposits, lending, customer consultations and cash payments.
Raiffeisen Bank explained that the first underground bank branches appeared in cities located near the hostilities and constantly under fire. The number and duration of air raids in these cities is increased, customers have limited access to offline services and frequent problems with stable communication.
This step is expected to help maintain economic stability in the frontline regions, preserve customer confidence and provide a sense of stability and security when using banking services, which is especially important in wartime.
In the future, the bank plans to open separate underground branches in Kharkiv, Dnipro and other frontline cities.

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