As of March 1, 2008, Raiffeisenbank introduced new terms for depositing temporarily redundant funds under its Universalny and Rentier deposit programs at increased interest rates.
Roman Vorobiev, Member of the Board and Head of the Consumer Banking Directorate of ZAO Raiffeisenbank commented on the event: «We analyzed the existing situation on the deposit market and improved the terms for our Universalny and Rentier offers. Thus, since March 1 six month and longer-term rouble deposits have grown much more profitable. The top rate for rouble deposits may reach 9% (Universalny deposit). In addition, the new interest rates for USD and EUR deposits are no less competitive. It is noteworthy that the new interest rates will apply to any extended deposits (under Universalny and Rentier offers).
At present, Raiffeisenbank's offer includes Universalny, Rentier and Investitsionny deposits. All three programs allow deposits to be made in Russian roubles, US dollars and Euros. Deposit periods range from one month to five years depending on the product chosen, and the maximum interest rate is 10%.
Investitsionny is the «youngest» of all products mentioned above. It combines the properties of the other two, offering the opportunity for simultaneous investment in one of the four mutual funds of the Raiffeisen Capital Management Company. This method has already proved efficient and is becoming more and more popular alongside Raiffeisen's «classical» offers.
Please visit our web-page for full information for individuals on making deposits at Raiffeisenbank.
ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 7th in terms of assets among top Russian banks based on 2007 results (Interfax-CEA). Raiffeisenbank is ranked 7th in terms of corporate lending based on 2007 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 2007 results.
Raiffeisen International operates one of the largest banking networks in CEE. 17 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies, a representative office and a number of other financial service providers. Over 13 million customers are attended to through more than 3,000 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 68.5 per cent of the common stock. The balance is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.