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Raiffeisenbank opens a new branch in the North-Western District of Russia

On March 12, 2008 a new operations office of Raiffeisenbank was opened in Syktyvkar (The Komi Republic). The office is located in the Tirgovy Dvor shopping center at 62 Pervomaiskaya St.

In his welcome speech, ZAO Raiffeisenbank CEO Johann Jonach noted that «The economic capacity of the region in which we are opening our operations office is attracting significant interest amongst finance organizations; both Russian and international. The opening of the branch is another step towards the implementation of Raiffeisenbank’s regional network development strategy. We are the first foreign-owned bank in Komi offering a full spectrum of financial services and products. This office will enable us to improve cooperation with private clients as well as corporations and to promote lending products for small and medium sized business. I am sure that our existing and potential clients in the Komi Republic will take notice of all the benefits Raiffeisen's local presence offers and reward us with their trust».

We have created all the necessary conditions in the new office to achieve our goals. The services of Raiffeisenbank's subsidiaries; Raiffeisen Leasing, NPF Raiffeisen and Raiffeisen Capital MC will also be available in the branch.

NPF Raiffeisen has successfully operated in Syktyvkar since January 2005 on the basis of Mondi Business Paper Syktyvkarsky LPK.

Igor Nekrasov was appointed CEO of Raiffeisenbank's new office in Syktyvkar.

The operations office has extended hours: Monday through Friday from 9 a.m. to 8 p.m., and from 10 a.m. to 5 p.m. Saturdays. There are two Raiffeisenbank ATMs in the shopping center, one with a cash deposit function.

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 operates one of the largest banking networks in CEE. 17 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies, a representative office 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 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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