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28.08.12

Russia’s Raiffeisenbank improves its lending rates for small business

Raiffeisenbank has announced changes to its small business loan rates.

The interest rates for evergreen credits and investment loans worth up to RUR 60 million with a term up to 10 years for new borrowers in the small business segment were reduced by 2%. Besides this, Raiffeisenbank does not charge any fees for small businesses for setting up the loan.

«For now, the corporate and individual customer lending markets are saturated, and the competition in these segments is very high. In view of this, the small and micro business market is seen as a segment with greater potential, both in terms of increasing our credit portfolio and revenue», said Oxana Panchenko, Member of a Board and Head of the Corporate Banking and Corporate Finance Directorate at ZAO Raiffeisenbank.

Raiffeisenbank is constantly developing its range of banking services for small businesses. In particular, the bank has recently launched a new unsecured business loan programme for loans worth up to RUR 5 million with a term up to 5 years with a streamlined review procedure.


ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on H1 2012 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.

Raiffeisen Bank International AG (RBI) 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. 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. In total, around 61,300 employees service about 14.6 million customers through around 3,100 business outlets, the great majority of which are located in CEE (these figures include Polbank). 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, the remainder is in free float. RBI’s shares are listed on the Vienna Stock Exchange. 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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