Raiffeisenbank has increased its daily bankcard withdrawal limit to 120,000 rubles for Visa Electron/Maestro cards and 200,000 rubles for Visa Classic/MasterCard Standard cards. The daily limit for customers whose wage is paid into Raiffeisenbank will remain at the previous high level of 310,000 rubles. The new limits will come into force from 21.10.2008.
The previous limits were 90,000 rubles for Visa Electron/ Maestro cards and 150,000 rubles for Visa Classic/MasterCard Standard cards. The increase in the limits are being introduced for the convenience of customers who hold cards with Raiffeisenbank.
The CEO of Raiffeisenbank Pavel Gurin noted that «our customers expect security, a high level of customer service and convenience, and we have to provide this in full. We are confident that the increase in the daily debit card limit will provide our customers with additional convenience».
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 1H 2008 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 5th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 1H 2008 results.
On 24th September, Raiffeisenbank completed the placing of its additional share issue with a total nominal value of 14.8 billion rubles. The registered capital of the bank increased by 68% and is now at 36.7 billion rubles. The net profit of Raiffeisenbank according to the results of the third quarter of 2008 was 8.5 billion rubles (according to the RAS).
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 and a number of other financial service providers. Over 14.4 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.