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The Reorganization of the Russia’s Raiffeisenbank Regional Center «Volga» is Complete

Raiffeisenbank has announced the completion of the reorganization of the branch network of the Volga regional center (Volga RC) and the transition of the regional network to a new operational model.

In 2010, as part of a project to upgrade the network of the bank, the Volga-Vyatka (Kirov), Saransk, Saratov, Izhevsk and Kazan branches were reorganized.

The branches were converted to Raiffeisenbank operational offices with a central branch in Nizhny Novgorod. In the Volga Federal District the Volga branch has been in operation since December 13, 2010, along with the network of operational offices in Kirov, Saransk, Saratov, Kazan and Izhevsk.

The Director of the Volga regional center, Alexander Gritsai said: "The large-scale reorganization of branches into operational offices has been conducted professionally and in a short time. The staff of the offices, the core RC branch and the central office spared no effort in implementing this important project. They worked cohesively and effectively.

As a result, we expect to improve the efficiency of our business processes. The network will be more focused on sales and customer service.

All the operating offices are working on a new IT platform, the processes and technology have been standardized, which enables us to offer new, affordable products across the entire network. I am confident that the reorganization will lead to a new positive phase of business development in the PFD."

The reorganization of the RC Volga began in June 2010. In the following months extensive work was done to upgrade the IT infrastructure, retrain personnel and transfer the business to the new operating model.

The Volga branch is the central Raiffeisenbank unit in the Volga Federal District. It combines branches and offices in Kirov, Sovetsk, Saransk, Samara, Togliatti, Saratov, Kazan, Perm, Izhevsk, and Ufa.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on Q3/2010 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 6th in terms of private deposits and 8th with regard to consumer lending.

Raiffeisen Bank International AG 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. More than 59,000 employees service about 15 million customers through around 3,000 business outlets, the great majority of which are located in CEE. 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. 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, which is listed on the Vienna Stock Exchange; the remainder is in free float. 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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