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Russian Standard Bank Ukraine’s subsidiary closes Crimea branches

April 17, 2014, 14:47 UTC+3 SIMFEROPOL
According to Russia's Central Bank, about 80 banks holding Ukrainian licenses were present in Crimea at the time of its reunification with Russia
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Russian Standard office in Moscow (archive)

Russian Standard office in Moscow (archive)

© ITAR-TASS/Vitaly Belousov

SIMFEROPOL, April 17. /ITAR-TASS/. The Ukrainian subsidiary of Russian Standard Bank has announced suspended operations in Crimea from Friday, April 18.

Russian Standard, engaged in retail and commercial banking operations in the Russian Federation and Ukraine, has a network of branches and mini-offices on the Crimean peninsula, at Simferopol, Sevastopol, Kerch and Feodosia.

According to Russia's Central Bank, about 80 banks holding Ukrainian licenses were present in Crimea at the time of its reunification with Russia. Two of them were independent banks while the others were affiliates and branches.

Ukrainian banks that have officially announced the closure of their offices in Crimea include Ukraine’s Raiffeisen Bank Aval, Imeksbank, Pivdenny Bank, Kyivska Rus Bank, Platinum Bank and Terra Bank, UkrSibbank (a subsidiary of French banking group BNP Paribas), UniCredit Ukraine, Alfa Bank Ukraine, VAB Bank, First Ukrainian International Bank (FUIB), OTP Bank, and Finance and Credit Bank.

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