The Ukrainian Raiffeisen Bank (Kyiv) aims to remain a universal bank, maintaining its leading positions in servicing the corporate segment while increasing its market share in serving individual clients, stated Alexander Pysaruk, the chairman of the board of the Ukrainian Raiffeisen Bank (Kyiv).
"Our goal is to retain our leading position in the corporate client segment, where competition has intensified significantly, and to become competitive in the individual client segment, where during the war our lag behind market leaders has objectively increased. I am confident that we will succeed," he said in an interview with Interfax-Ukraine.
According to Pysaruk, Raiffeisen is one of the best banks in Ukraine for servicing large Ukrainian and international companies, as well as small and medium-sized businesses. However, he noted that it has never been a leader in servicing individual clients.
"We will remain the fourth largest bank in the country by total assets and client funds, and the third largest lender to Ukrainian businesses. We plan to increase our market share in lending to individuals, significantly improve digital services, and enhance the customer experience in the retail segment," Pysaruk emphasized.
He acknowledged that transforming a traditional universal bank is never inexpensive, which is why Raiffeisen is ready and already making necessary investments in this area.
"We are investing in the MyRaif mobile application and completely restructuring backend processes to enhance customer experience and improve operational efficiency," the chairman reported. Specifically, he clarified that in addition to convenient card-to-card transfers in MyRaif, a payment service to IBAN has recently been launched.
According to him, the bank currently maintains two applications for individual clients - Raiffeisen Online and MyRaif. However, thanks to investments and improvements to the new application, it plans to disable Raiffeisen Online in the middle of next year.
He also mentioned another significant project: the transition from the old client-bank system BIFIT for legal entities to Raiffeisen Business Online.
"Additionally, there are investments in cybersecurity and 'the cloud,' where we are leaders in the banking market. Over the past four years, we have invested in modern banking technologies, and we need to transform these investments into customer experience," Pysaruk summarized.
According to the National Bank of Ukraine, as of October 1 this year, Raiffeisen Bank ranked 4th in total assets (UAH 229.12 billion) among 62 operating banks in the country. The financial institution entered the top three leaders in net profit for the first nine months of this year, amounting to UAH 6.151 billion, compared to UAH 6.135 billion for the same period last year.