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Russia’s Raiffeisenbank offers credit cards at 10.8% annually

Raiffeisenbank announces rollout of new credit card offer. Customers opening credit card accounts from October 1 through December 31, 2013 can take advantage of a lower interest rate of 10.8% annually.

The offer will run from October 1, 2013 through January 31, 2014.

Credit card turnover typically increases by an average of 20-25% at year end, principally due to holiday spending. Taking this into account, were reducing the rate on credit cards during this period, said Alexey Kapustin, Head of Retail Products and Customer Relations at ZAO Raiffeisenbank.

For more details on this offer, please visit Raiffeisenbanks official Web site.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 11th among the Russian banks in terms of assets, based on H1 2013 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.

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. In total, more than 59,000 employees serve some 14.2 million customers through more than 3,000 business outlets, the great majority of which are located in CEE. 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, 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 group head office of the entire RZB Group, including RBI.


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