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Raiffeisenbank’s South Urals branch to finance construction of major shopping mall Rodnik

The South Urals branch of Raiffeisenbank opened a 10-year credit facility for Rodnik LLC, a development company and part of the Agricultural and Industrial Association to finance the construction of the largest shopping mall in the South Urals. Raiffeisenbank and Rodnik launched the project in 2006; the loan agreement was signed on January 30, 2008.

Rodnik will be a state-of-the-art building of 150,000 sq. m. in Chelyabinsk at the intersection of Truda and Chaikovskogo streets on the riverfront. The facility is to offer ground-level and underground parking facilities, a 10,000 sq. m shopping mall, and a DIY store of 12,000 sq. m occupied by major international chain operators. The complex is also to include an entertainment center, a bowling alley, a food court, a theater, a department store, a boutique gallery, as well as home appliance, sporting goods and children's stores.

The mall is scheduled to open in late 2009.

Rodnik's CEO Vladislav Redkin said: «Our company is a major South Urals developer, implementing commercial real estate projects in Chelyabinsk, including the Rodnik mall. Our partners — major international corporations, independent real estate experts, and Raiffeisenbank — are impressed with our team's professionalism and the use of international standards for the project; hence the solid credit facility.»

Raiffaisenbank's professional approach, leading market position, and experience made it the right partner for Rodnik's South Urals shopping mall project. Shurkhat Sobirov, CEO of the South Urals branch, commented «This large-scale project should make the city more attractive for investment and contribute to the development of commerce and higher sales, and help attract new international and local retailers. The project is also offers significant social benefits as a new shopping venue offering residents of the city additional opportunities for family leisure at international standards.»

The South Urals branch of Raiffeisenbank, the bank's fifth regional outlet in Russia, opened in March 2006. Like all of Raiffeisenbank's other braches, South Ural offers a full range of services for corporate and private clients, as well as valuable experience in banking products for companies and individuals in Russia's regions. All services provided by Raiffeisen Group in Russia, including Raiffeisen Leasing, NPF Raiffeisen and Raiffeisen Capital MC, are available at the Chelyabinsk branch.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 7th in terms of assets among top Russian banks based on 2007 results (Interfax-CEA). Raiffeisenbank is ranked 7th in terms of corporate lending based on 2007 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 2007 results.

Raiffeisen International Bank-Holding AG (Raiffeisen International) operates the largest banking network in CEE. 17 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies, two representative offices and a number of other financial service providers. Over 13 million customers are attended to through more than 3,000 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 68.5 per cent of the common stock. The balance per cent is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.


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