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Russia’s Raiffeisenbank is offering a special programme for the purchase of Hyundai Solaris cars

Raiffeisenbank is launching a special programme for the purchase of Hyundai Solaris cars under the state subsidies project. Now customers can obtain one-year loans at the reduced interest rate of 5.57% per annum in roubles with an initial payment of at least 40% of the cost of the car. Under this programme, the minimum borrower age was lowered to 20 years.

A loan can be taken out in any Hyundai Motor CIS showroom in Russia where Raiffeisenbank is represented.

«We are launching a programme with unique terms — the rate of 5.57% is one of the lowest today on the car loan market, — said Andrey Stepanenko, member of the Board of ZAO Raiffeisenbank, head of retail private individuals directorate. — This rate and the decrease in the minimum age of the borrower make our programme more cost-efficient and accessible».

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on Q1 2011 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th 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. Around 60,000 employees service about 14 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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