“Raiffeisenbank stops issuing new loans for purchase of passenger cars and commercial vehicles, as well as refinancing car loans. This decision was taken due to the negative trends at the domestic automobile market, witnessing the extremely low development potential of this business in Russia in the medium term” - the statement of the bank says.

      The credit organization notes that the procedure and conditions of loan repayment will not be altered for the existing borrowers. The bank also announced the closure of its offices in Angarsk, Barnaul, Bratsk, Volga, Zlatoust, Ivanovo, Izhevsk, Magnitogorsk, Nefteyugansk, Sovetsk, Stavropol, Stary Oskol, Taganrog, Tolyatti and Chita until October 30, 2015. The bank will open 6 additional offices in the capital by the end of the year.