Starting 2018, Raiffeisen Bank will stop offering trading services for shares, bonds and other financial instruments intermediated on the stock exchange for itself or its customers, according to a company statement.
The accounts of customers impacted by this move can be transferred to entities belonging to the group.
James Stewart, vice president of treasury and capital markets at Raiffeisen Bank, said: “We continue our efforts to simplify the banking activity, especially on the backdrop of the new European regulations that increase the complexity and the costs related to the trading of financial instruments, considering that the demand for such products remains modest at local market level.”
He added that the lender will continue to operate the investment funds under Raiffeisen Asset Management and the services targeting Premium and Private Banking.
Stewart went on to say Raiffeisen Bank will remain active in the IPOs market, as well as on private equity and M&A deals.