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Russia’s Raiffeisenbank improves terms for car loans

Raiffeisenbank has introduced improved terms on retail auto loans. In addition to lower interest rates on all auto loans offered, the bank is offering a new lending program with no money down for selected Hyundai and Chevrolet models.

«Car loans are an important field for Raiffeisenbank. We are constantly developing new programs with car manufacturers and official dealers to offer our customers the simplest and most favourable terms» says Andrey Stepanenko, Head of Retail Private Individuals Directorate and member of the Board of directors.

Raiffeisenbank offers financing on more than 500 of the most popular foreign and Russian-made models. Customers can file a loan application in any Raiffeisen branch, as well as at car dealerships. Decisions are made in one business day, and approval is effective for four months, giving customers ample time to select specific cars and dealers.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on 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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