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Raiffeisenbank reorganizing its St. Petersburg branches

Following the merger of ZAO Raiffeisenbank and OAO Impexbank on November 23, 2007, Impexbank's Sankt Peterburgsky (St. Petersburg) branch was combined with Raiffeisenbank's Severnaya Stolitsa (Northern Capital) branch. As a result Raiffeisenbank now has two branches in St. Petersburg.

On September 30, 2008 the Sankt Peterburgsky branch is to be shut down as part of Raiffeisenbank's strategy for optimizing the management of its regional network.

Sankt Peterburgsky's outlets are to be integrated into the existing network of Severnaya Stolitsa and Sankt Peterburgsky's customers transferred to Severnaya Stolitsa, following the receipt of timely notice.

«At this stage of business process integration, all new transactions are handled by Severnaya Stolitsa only. With the liquidation of the Sankt Peterburgsky branch, scheduled for autumn, our customers will be able to choose among all Raiffeisenbank's offices in St. Petersburg,» said Aleksey Konyshkov, deputy CEO of Raiffeisenbank's Severo Zapadny (Northwestern) regional center.

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 14 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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