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Russia’s Raiffeisenbank cancels mortgage loan origination fee

Raiffeisenbank is to cancel origination fee for mortgage loans granted under all programmes, with the exception of multi-purpose loans against property pledge.

«This year we see a growth in mortgage lending, on average 15%-25% compared to end on last year. This trend shows ever-increasing public interest in mortgage. We hope that the cancellation of origination fee will make our mortgage programmes even more accessible for customers,» says Andrey Stepanenko, head of retail private individuals directorate, member of the management board of ZAO Raiffeisenbank.

Raiffeisenbank entered the mortgage market in 2003. Today ZAO Raiffeisenbank is offering a wide choice of mortgage programmes, providing finance for purchase of a new flat before its construction, for purchase of a secondary-market property, and home equity loans.

For details on all mortgage programmes of ZAO Raiffeisenbank go to the official web-page.

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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