Which Ukrainian Banks Closed the Most Branches? 61 Shuttered in Six Months.

Bank Branch Reductions in Ukraine

According to Мінфін — Крипто/Фінанси: During the first half of 2023, Ukrainian banks cut their combined branch count by 61, falling from 4,815 at the start of the year to 4,754 as of July 1, according to the National Bank of Ukraine.

Network Changes by Institution

Among the lenders that trimmed their physical presence:

• Oschadbank closed 16 branches
• Raiffeisen Bank - 10 branches
• PrivatBank - 8 branches
• Ukreximbank and TAScombank each shut 5 branches

On the other hand, a few banks added new locations:

• Akordbank opened 6
• MTB Bank added 3
• ASVIO Bank opened 2 new branches

Currently, Oschadbank runs the largest network at 1,115 branches, followed by PrivatBank at 1,050. Raiffeisen Bank has 282 branches, and PUMB operates 220. These adjustments show how the banking system is adapting to market conditions and customer demands.

The branch reductions likely stem from changing consumer habits and falling demand for traditional services as digital finance grows. Banks must streamline their networks to stay relevant, while the openings by some institutions signal targeted expansion efforts or a focus on regions with high demand for in-person banking. This trend mirrors global shifts toward digital banking, though a few lenders are selectively growing their footprint.