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19.10.10

Russia’s Raiffeisenbank has introduced new fees on cash loans

On October 18 new rates on cash loans came into effect in Raiffeisenbank. At the same time the Bank launched its marketing campaign «Feeling the ease in lending,» which reveals the benefits of its new consumer lending offers.

New, lower rates came into effect on this day, making rate determination for new customers of the Bank more flexible. So, if previously the Bank could approve a consumer loan with one of three rates — 14.9%, 19.9% or 30.9% per annum, now new customers can be offered one of four rates: 14.9%, 17.9%, 21.9% or 26.9%.

The more flexible approach to the determination of individual rates will make cash loans a more attractive prospect than ever before.

In addition, the differential rates programme continues to operate, which provides exclusive offers on cash loans (from 13.5% per annum) for clients who wish to develop a long-term partnership with the Bank. Clients who have demonstrated their commitment and ability to make payments to the bank can expect to receive more and more attractive offers.

Since May 2010 the retail credit portfolio of Raiffeisenbank has grown steadily. In the summer it exceeded the market average for the most part thanks to unsecured loans, which increased in the total loan portfolio by 4.4%.


ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on H1 2010 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 6th in Russia in terms of private deposits and 9th in consumer lending in Russia based on H1 2010 results.

Raiffeisen Bank International AG regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. 56,000 employees service about 15 million customers through around 3,000 business outlets in the region. RBI is the only Austrian bank with a presence in both the world’s financial centres and in Asia, the group’s further geographical area of focus. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, which is listed on the Vienna Stock Exchange; the remainder is in free float. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group, and serves as the group head office of the entire RZB Group, including RBI.

 

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