Banking network, after growing in Q4 2023, narrows again in Q1 2024 – NBU

The network of structural divisions of Ukrainian banks, which for the first time since the beginning of the war grew by 40 divisions in the fourth quarter of 2023, lost 30 points in the first quarter of 2024, shrinking to 5,108 divisions.

According to information published by the National Bank (NBU), this result is mainly associated with the closure of 12 branches of Credit Agricole Bank, nine of Poltava Bank and five of PrivatBank, after which their networks totaled 128, 73 and 1,127 points respectively.

PrivatBank, the largest in terms of assets in the country, as in the previous quarter, ranks second in the number of branches among 63 operating in the country, and is also behind state-owned Oschadbank, whose network decreased by one point in the first quarter – to 1,181.

In general, the top five have not undergone significant changes: Raiffeisen Bank is third (332), followed by UkrSibbank (223) and FUIB (222). Among them, only FUIB made changes to its network, which increased it by one branch during January-March.

Four banks closed two or more branches in January-March 2024. In particular, A-Bank – four (to 197 points), MTB Bank, Grant Bank and Bank of Investments and Savings (BIS-Bank) – two each: to 43, 17 and 30 branches, respectively.

In the first quarter, Ukreximbank (to 47 points), Kredobank (67), Asviobank (43), Metabank (24), Europrombank (4) and RwS Bank (19) each reduced one branch each.

At the same time, Ukrgasbank (222), Accordbank (148) and Pravex Bank (42) expanded their network by two branches. Six more banks increased the number of their divisions by one branch: TAScombank (98), CIB (58), Pivdenny (49), Alliance (36), Crystalbank (41), and Oxi Bank (11).

In total, since the beginning of the full-scale invasion of the Russian Federation, the network of Ukrainian bank branches has become smaller by 1,577 points.