Standard& Poor's Ratings Services and FITCH Ratings just assigned theirratings to ZAO Raiffeisenbank Austria (Raiffeisenbank).
Standard& Poor's Ratings Services assigned its‘BBB+’ long- and ‘A-2’ short-term counterparty credit rating with stable outlook. At the same time, ‘ruAAA’ Russia national scale rating was assigned.
FITCH Ratings assigned ratings of Long-term Issuer Default (IDR)‘A-’ (A minus), Short-term IDR ‘F2’, Support ‘1’. Individual ‘C/D’ and National Long-term ‘AAA (rus)’. A Stable Outlook has been assigned to both Long-term IDR and National Long-term rating.
These newly assigned ratings by FITCH Ratings and Standard& Poor''stogether with the existing foreign currency deposit rating of Moody''s(Baa2) make Raiffeisenbank the best rated bank in Russia.
The ratings on Raiffeisenbank reflect strong shareholder support, theexcellent customer franchise, low loan impairment losses levels, soundrisk management and strong profitability. Raiffeisenbank is among the 10largest banks in Russia providing a broad range of corporate, investmentand retail banking services. By the end of 2007 the Bank will finalizeits merger with Impexbank, hence further developing its regional networkand strengthening positions on the market mainly in the SME and retailareas.
Johann Jonach, Raiffeisenbank’s CEO, stated “The high ratings once again prove the success of Raiffeisenbank’s clear strategy on the Russian market to provide high quality services to corporate and retail clients all over the country. Our experience in the market and conservative risk approachtogether with the ongoing support from the parent company enable Raiffeisenbank to maintain high levels of financial performance and to further increase our market share”.
ZAO Raiffeisenbank Austria is ranked 8th in terms of assets among thetop Russian banks based on H1 2007 results (Interfax-ÑÅÀ). As of 30 June the Bank disposed of 51 business outlets mainly covering Moscow and Saint Petersburg, but also covering Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm as well as a representative and credit office inUfa. Raiffeisenbank. It ranks 7th in terms of corporate lending and 6th in volumes of private deposits based on H1 2007 results (Interfax-ÑÅÀ).
ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG, which operates the largest banking network in CEE. 18markets of Europe''s growth region are covered by subsidiary banks,finance leasing companies, two representative offices and a number ofother financial service providers. About 12.7 million customers areattended to through more than 2,950 business outlets. RaiffeisenInternational is a fully consolidated subsidiary of RaiffeisenZentralbank Osterreich AG (RZB), which owns 70 per cent of the commonstock. The remaining 30 per cent is free float, the shares are traded onthe Vienna Stock Exchange. RZB is a leading corporate and investmentbank in Austria and the central institution of the Austrian RaiffeisenBanking Group, the country''s largest banking group.