Raiffeisen Bank Aval has received the status of authorized Bank for the storage of cash reserves of the NBU
Kiev. 11 Oct. - According to the decision of the Board of the National Bank of Ukraine, Raiffeisen Bank Aval will keep cash reserves of the regulator under the appropriate security.
This decision was made after consideration of the written request of Raiffeisen Bank Aval to the NBU about the intention to become an authorized Bank for the storage of cash reserves of the national Bank and providing the regulator with the necessary information confirming compliance with certain criteria.
"The introduction of the new model will provide more opportunities to improve the operational efficiency of our Bank and improve the processes of cash management and saving," said Oksana Shevchenko, Deputy Chairman of the Board of Raiffeisen Bank Aval. "It is also important to reduce the risks and costs associated with the transportation of cash."
Raiffeisen Bank Aval has become the third Bank in Ukraine to be able to carry out operations with the National Bank's cash reserves under the latter's permits, as well as to provide banks in the regions with cash and accept surpluses from them.
Raiffeisen Bank Aval has 25 years of experience in the organization of cash services, transportation of currency values and collection of funds using the most modern technologies recognized by international financial institutions.
The Bank's extensive network operates in all regions of Ukraine. As of September 1, 2017, it included, among others, 39 cash registers (22 of them — at the level of regional centers).
Delegation to commercial banks of the functions that the national Bank of Ukraine performs today in the regions will allow the regulator to gradually move from the partially controlled model of cash flow organization that currently exists in Ukraine to the delegated model.
Raiffeisen Bank Aval was registered on 27 March 1992. Since October 2005, the Bank has been part of the Austrian banking group Raiffeisen Bank international AG. As of June 30, 2017, RBI owns 68.28% of the Bank's shares, the European Bank for reconstruction and development — 30%.
A wide range of banking services is provided to more than 2.5 million customers of Raiffeisen Bank Aval through a nationwide network of branches, ATMs and self-service centers throughout Ukraine.
