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Sergey Monin appointed as CEO of Raiffeisenbank in Russia

  • Appointment subject to approval of Central Bank of Russia
  • Excellent track record of 15 years in the bank
  • RBI most geared towards Russia among Western banks

Sergey Monin was appointed as CEO of Russias ZAO Raiffeisenbank by the banks Supervisory Board at its meeting earlier today. The appointment is subject to the approval of the Central Bank of Russia. Monin, up to now the Deputy Chairman of Raiffeisenbanks Managing Board, succeeds Pavel Gurin, who had headed the Russian subsidiary of Raiffeisen Bank International AG (RBI) for three years before passing away at the start of September after a long and very brave fight against cancer.

As Acting Chairman of the Managing Board during the past few months, Sergey Monin has already proved that he is capable of heading Raiffeisenbank. His outstanding professionalism, many years of experience in the Russian banking sector, and strong managerial skills will no doubt enable him to achieve all the goals weve set for our largest subsidiary bank, which has a high strategic importance for Raiffeisen Bank International, said Herbert Stepic, CEO of RBI and Chairman of Raiffeisenbanks Supervisory Board.

I would like to thank Raiffeisenbanks shareholders for their confidence in me. With the bank performing very well both in terms of business results and management efficiency, I will do everything possible to meet their expectations for its continued performance, said Sergey Monin.

Sergey Monin was born in Moscow in 1973. He graduated from the Financial University under the Government of the Russian Federation in 1995, majoring in international economic affairs. Monin joined Raiffeisenbank in 1996, was promoted to Head of Treasury in 1999 and appointed Board Member in charge of Treasury in 2003.

RBI is the Western banking group most geared towards Russia. Founded in 1996, Raiffeisenbank ranked ninth in terms of loans and advances to customers in the Russian banking market as per the end of March 2011. Serving nearly two million customers via 190 business outlets and about 8,600 employees (as per the end of June 2011), it is the second-largest foreign bank in Russia, whose banking sector enjoys a solid outlook and declining non-performing loan-ratios. Raiffeisenbank also makes a key contribution to RBIs ideal positioning to capture the trans-regional trade-flows through its business operations in Central and Eastern Europe and Asia.

Raiffeisen Bank International AG (RBI) 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. RBI is the only Austrian bank with a presence in both the worlds financial centres and in Asia, the groups further geographical area of focus.

RBI serves around 2 million clients in Russia. It has a balance sheet total of more than  13 billion, is represented with 190 offices and has around 8,600 employees.

In total, around 60,000 employees service about 13.5 million customers through around 3,000 business outlets, the great majority of which are located in CEE.

RBI is a fully-consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBIs shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group, and serves as the head office of the entire RZB Group, including RBI.

For further information please contact Michael Palzer (+43-1-71-707-2828, or Peter Klopf (+43-1-71-707-1930,,


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