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21.04.05

Another Successful Year Marked with Excellent Results and Recognition.

Raiffeisenbank Austria, ZAO, Russia, showed excellent results havingclosed the year 2004 with USD 2,946 bln balance sheet, which translatesinto 45,6% increase compared with 2003 results, the growth reflected inthe rankings where the Bank occupied the 11th line in terms of assets(CEA Interfax). Performance results of Raiffeisenbank left the Russianbanking systems 25% growth (CEA Interfax) much behind. The Banks profit before tax amounted to USD 82,1 mln over the same period, which is 32,4% up on the figure for 2003 year-end (USD 62 mln).

Michel Perhirin, the Banks Chairman commented saying that: despite the tight business environment, it has been another strong year for Raiffeisenbank in Russia, one that the management team and staff can all be proud of and Raiffeisenbank managed to keep the growth tempo outperforming the market overall.

Raiffeisenbank kept the similar successful pace in corporate bankingsector: the customer base increased up to 3200 companies, which means54% rise against the figure of 2003 year-end with corporate loanportfolio surging up by 75,7% to reach USD 1,77 bln.

In February, 2004 Raiffeisenbank successfully launched a new lendingprogramme for medium-sized enterprises meeting the recent market demand.Having extensive experience in the medium business sector,Raiffeisenbank decided to create a special bank unit dedicated to thissegment and make it more convenient and visible to a potential client.

2004 also witnessed Raiffeisenbank enhancing positions in corporatefinance and investment banking, where overall amount of financing raisedfor clients by the Bank grew by 74,5% on year-on-year basis and for thefirst time exceeded USD 600 mln.

In rouble corporate bond market the bank participated in 9 transactionsin 4 of which the bank acted as lead manager. One of the most prominentdeals of the year was the secondary placement of RUR 1-billion bondissue of Baltika, the largest brewery in Russia and Eastern Europe. Theunique structure of the book ensured best ever pricing for 3-year dealfor a corporate issuer outside of the oil& gas industry in Russia.

Raiffeisenbank was named the Best Syndicated Loans Arranger in 2004 bythe renowned Global Finance magazine.

The 600 mln syndicated loan jointly arranged by RZB and RBRU and groupof other banks for Russian telecom provider Mobile TeleSystems (MTS),the first unsecured large Russian corporate loan outside the commoditysector, was awardedEEMEA Emerging Market Loan of the Year by International Financing Review magazine.

Raiffeisenbanks concentrated its efforts on the retail banking as one of the key businesses, introducing new products, expanding customer base and hence remarkably improving performance results in 2004. Raiffeisenbank''s private loan portfolio, in terms of which the Bank ranks 4th among the largest Russian banks (CEA Interfax, based on 2004-yearend results), exceeded USD 374,25 mln, which means 163% growth in comparison with USD 142,3 mln as of 2003 year-end.

Private deposits amount to USD 767,76 mln, this translates into growthof 63,7% compared with 2003-yearend figure of USD 469 mln, the resultreflected in the rankings, where Raiffeisenbank occupies the 7th line(CEA Interfax, 2004-yearend results based).

2004 the Bank started developing one more strategic business directionhaving elaborated a new set of products in the framework of SMEfinancing programme, which will be fully operational in the year 2005.

The Banks mortgage loan portfolio skyrocketed by 207% to USD 86 mln from USD 28 mln as of 2003 year-end.

November 2004 Raiffeisenbank together with Peterburgstroy Skanskaannounced a loan programme for purchase of apartments on the primarymarket in Saint Petersburg. For the first time in Saint Petersburgprivate individuals got an opportunity to receive a mortgage loan forapartment purchase on the primary market in a foreign bank incooperation with a foreign company.

The banks car loan portfolio grew 154% to reach USD 216 mln (USD 85 mln as of 2003-yearend).

In the past year Raiffeisenbank introduced a new car loan programoffering car loans secured by pledge on the used car (not more than 5years old, imported into Russia by an official dealer) for the term from1 to 3 years. Moreover the number of partners car-manufacturers was considerably enlarged during 2004. According to various estimations the Bank is #1 based on number of partners and the volume of loans disbursed in the automotive sector.

The unsecured loan portfolio soared by189% to reach USD 51,5 mln (USD17,8 mln as of 2003-yearend).

Despite the considerable quantitative increase in cards volume andtransactions in Russia, Raiffeisenbank managed to increase the turnoveron its cards and recognizably improved its ranking: according to VISAInternational statistics, Raiffeisenbank became #2 in Russia in terms ofRSV (retail sales volume) with a share of more than 10% in 2004 (in 2003the Bank was 3rd). The total number of cards issued by the Bank reached190 000 and cards transactions turnover reached USD 100 mln per month.

During the year 2004 the Bank installed more than 100 ATMs (187 against70 as of 2003-yearend) in Moscow and 17 ATMs (31 against 14 as of2003-yearend) in Saint Petersburg.

The Banks successful dynamics and commitment to the highest standards of transparency and reliability are illustrated by a set of awards and ratings given to the Bank during the year.

Moody''s Interfax Rating Agency assigned the long-term national scalecredit rating to Raiffeisenbank Austria, ZAO at Aaa (rus) and theshort-term rating at RUS-1, both ratings are the best ones in theirrespective categories and were never before assigned to any Russianlegal entity, which Raiffeisenbank considers to be the highestrecognition of its achievements.

Moody''s Investors Service also assigned the following ratings to theBank: D Financial Strength Rating (FSR), Ba1 long-term and NP short-termforeign currency deposit ratings, the ratings are one of the highestassigned by Moodys to Russian Banks, including state-owned ones.

Furthermore US-magazine Global Finance decorated Raiffeisenbank withprestigious"Best Overseas Bank in Russia" award.

2004 Raiffeisenbank announced the signing of the 2-year USD 180 mlnsyndicated loan arranged by a syndicate of western banks. The fundssecured at a record low margin to be used to finance the Banks growing loan portfolio.

2004 Raiffeisenbank entered the pension funds and asset managementmarkets by becoming the sole shareholder of Non-State Pension FundRaiffeisen and by establishing the asset management company RaiffeisenCapital. These were logical steps to complete the spectrum of thebanking services offered in Russia and to prove the Bank''s commitment tothe market.

Raiffeisenbank Austria, ZAO is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International). Raiffeisen International isa fully consolidated subsidiary of RZB and a member of the RZB Group,minority interest is held by International Finance Corporation (IFC) andthe European Bank for Reconstruction and Development (EBRD). RaiffeisenInternational is the holding company for Raiffeisen Group most importantsubsidiaries in Central and Eastern Europe (CEE). RZB-Austria is thecentral institution of the Austrian Raiffeisen Banking Group, thecountry''s most powerful banking group.

Raiffeisenbank Austria, ZAO is a universal bank with operations equallyfocused on commercial, retail and investment banking activities. It hasoperated in Russia since 1996 offering a wide range of services tocompanies and private clients.

 

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