The Austrian Raiffeisen Group is the largest foreign banking group inRussia according to Interfax''s Centre for Economic Analysis(Interfax-CEA). Raiffeisen, represented in Russia by RaiffeisenbankAustria and IMPEXBANK, forms the seventh-largest bank in Russia in termsof total assets, Interfax-CEA reported, citing data from January 1,2007, based on Russian Accounting Standards. Total assets of both banksamount to more than 287.5 billion rubles (7.8 billion euros)*.
Johann Jonach Chairman of the Board of Raiffeisenbank Austria said,“During the past year we have been working intensely on preparing the launch of our legal merger, increasing the charter capital of both Raiffeisenbank and IMPEXBANK. The legal merger will take place by the end of 2007; the combined banks will work under the name of Raiffeisenbank."
Together, Raiffeisenbank and IMPEXBANK are ranked 3rd in Russia in termsof consumer deposit volumes (79.5 billion rubles [2.2 billion euros])*and 4th for consumer lending (48.6 billion rubles [1.3 billion euros])*,Interfax-CEA reported. The most significant factor in the businessdevelopment of the Raiffeisen Group in Russia is the constant expansionof the sales network, which is spread across the country, providingaccess to more than 140 million people.
According to Pavel Lysenko, Chairman of the Board of IMPEXBANK,"thejoint progress of Raiffeisenbank and IMPEXBANK is an excellentachievement and once again demonstrates the Raiffeisen Group’s leading positions on the Russian market. We have proven that together we can quickly and efficiently react to changing market conditions, and render the widest range of services to our clients at the highest level".
Raiffeisenbank Austria is a universal bank, focussing in equal measureon commercial, retail and investment banking activities. It startedoperations in Russia in 1996, offering a wide range of services to bothcompanies and individual customers. Raiffeisenbank is ranked 10th inRussia in terms of assets, based on 2006 results (Interfax-CEA). InFebruary 2007, top business magazine Global Finance named the RaiffeisenGroup Russia''s Best Overseas Bank.
Established in 1993, IMPEXBANK is also a universal bank, and is ranked28th in Russia in terms of assets and equity. The bank is ranked 4th interms of small and micro enterprises lending. The bank’s customers are serviced through 203 business outlets and about 400 points of consumer lending.
Raiffeisenbank Austria and IMPEXBANK are subsidiaries of RaiffeisenInternational Bank-Holding AG, which operates one of the leading bankingnetworks in CEE, with subsidiary banks and leasing companies in 16markets. Appoximately 12 million customers are serviced through morethan 2,800 business outlets. In eight markets, the respective networkbank is one of the three largest local banks. Representative offices inLithuania and Moldova complement the Group’s presence in the region. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 70 per cent of the share capital. The remaining 30 per cent of the shares is traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria, and the central institution of Austria’s Raiffeisen Banking Group, the country’s largest banking group.
*Exchange rate of the Central Bank of Russia for 1 January 2007: 1 EURO= 36.6965. All data based on the Russian Accounting Standards.