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Raiffeisen Bank to close 20 branches in Hungary

Raiffeisen Bank will close 20 branches in Hungary on October 30, the bank told MTI on Friday. The branches, including five in Budapest, to be shut down showed a fall in client numbers and were also close to other Raiffeisen Bank branches.

Raiffeisen Bank said it does not see the Hungarian market expanding as quickly as in earlier years in the near future, thus it is taking strategic steps in the interest of bringing its structure in line with realistically expected business volume. (MTI-Econews)