The Association of Ukrainian Banks considers Raiffeisen Bank Aval's and Ukrsotsbank's decision to withdraw from the Association to be harmful to unity of the banking system, the statement circulated by the Association of Ukrainian Banks reads.

"The Board of the Association of Ukrainian Banks has excluded Raiffeisen Bank Aval and Ukrsotsbank from membership based on their resignation letters. Board members have noted negative stance of Raiffeisen Bank Aval's and Ukrsotsbank's management which held aloof from board activity thus hurting the unity of the banking system," the statement said.

The key objective of the banking system today, according to the Association, is to consolidate efforts and protect interests of financial institutions.

The Association also sees the need to facilitate feedback between banks and the Association in order to make joint actions more efficient.

As Ukrainian News reported, Raiffeisen Bank Aval and Ukrsotsbank withdrew from the Association of Ukrainian Banks.