Raiffeisenbank issued its 500,000th banking card in Russia this month.The total turnover for Raiffeisenbank’s cards inside and outside Russia topped USD 3.5 billion in 2006.
Roman Vorobiev, Head of Retail Banking at Raiffeisenbank, noted:“We were the first bank with foreign ownership to issue cards in Russia. Passing the half-million milestone is a very good result for any bank and is particularly significant for us. Banking cards were one of our first products when we entered the retail market in 1999”.
Raiffeisenbank is a member of both VISA International and MasterCardInternational and issues all the core banking cards available, fromElectron to Gold, including those with credit limits. Customers areissued with current-account cards denominated in rubles, US dollars andeuros.
Raiffeisenbank began issuing credit cards in October 2003. SinceFebruary 2006, Raiffeisenbank offers its clients a revised credit cardwith a grace period, a move enabled by new legislation. Under theprogram, clients can take advantage of an interest-free period of up to50 days from the purchase date, or choose to pay back the loan ininstalments. In February 2007 Raiffeisenbank reduced its minimum creditlimit for VISA Gold and MasterCard Gold credit cards from USD 5,000/RUR150,000 to USD 3,500/RUR 100,000.
In April 2006, Raiffeisenbank introduced its“Discounts for You” - bonus program, enabling Raiffeisenbank card holders to take advantage of special offers from the Bank’s partner businesses, which include shops, restaurants and travel companies. The program is upgraded on a regular basis, and the bank constantly strives to expand the number of partners offering discounts.
Raiffeisenbank is ranked 10th in terms of assets among top Russian banksbased on 2006 results (Interfax-СЕА). At present the Bank disposes of 24 branches in Moscow, 5 branches in Saint Petersburg and regional branches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. Raiffeisenbank is ranked 9th in terms of corporate lending based on 2006 results (Interfax-СЕА). Among the leading retail banks Raiffeisenbank is the 8th largest bank in Russia in terms of private deposits and 8th in terms of consumer lending based on 2006 results (Interfax-СЕА).
ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG, which operates one of the leading banking networks inCEE with subsidiary banks and leasing companies in 16 markets. More than12 million customers are served through more than 2,800 businessoutlets. Representative offices in Lithuania and Moldova complement theGroup''s presence in the region. Raiffeisen International is a fullyconsolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB),which owns 70 per cent of the common stock. The remaining 30 per cent isfree float, the shares are traded on the Vienna Stock Exchange. RZB is aleading corporate and investment bank in Austria and the centralinstitution of the Austrian Raiffeisen Banking Group, the country''slargest banking group.