Russian Alfa-Bank refuses to leave Ukraine

According to the co-owner of one of the biggest private banks, Petr Aven, Russian Alfa-Bank is not going to sell their business in Ukraine. “We have not made a decision [to sell our Ukrainian business] yet. We’ve decided to work there. We are not a state bank,” he said during a television interview on channel Russia 24, RIA Novosti reports.

Even so, Aven professes that it is difficult for Alfa-Bank to work in Ukraine. "We have had 80 attacks on different bank branches in different cities in the last month alone. Attackers throw bottles of incendiary mixtures, pour construction foam on ATM machines daily... Therefore, it's difficult to work there. We have big problems there, of course."

Aven also noted that their Ukrainian business is unprofitable and does not show "good figures.” However, much effort has been spent on its construction so Alfa-Bank does not intend to get rid of it yet.

"We will see, of course. We hope for normalization of relations between our countries so that we can work there... Today we are where we are; we'll see how it goes," he said.

Alfa Bank’s Ukrainian businesses are Alfa Bank Ukraine and Ukrsotsbank, owned by the Alfa Group.

  Russian banks, Alfa-Bank