KIEV, Dec. 20 - Raiffeisenbank Ukraine and Aval bank's (both based in Kiev) merger has considerably raised the market value of the whole Ukrainian banking system, bank's CEO Volodymyr Lavrenchuk said.

The bank's press service reported that earlier the cost of any bank was determined on the base of certain expert calculations and was artificially lowered. "The purchase of Aval bank by Raiffeisen group for $1.028 bln determined the real market value of Aval and other Ukrainian banks," the banker said.