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Kuban Branch of ZAO Raiffeisenbank Austria has purchased mortgage loanpool from Krasnodar Branch of Moscow Bank for Reconstruction andDevelopment.

On December 27 Kuban Branch of ZAO Raiffeisenbank Austria has purchaseda mortgage loan pool from Krasnodar Branch of Moscow Bank forReconstruction and Development. The pool included mortgage loans securedby real estate in Krasnodar and granted for up to 25 years.

Natalya Gribkova, Director of Kuban Branch of ZAO RaiffeisenbankAustria, explained:"Before the New Year we have already moved ourcustomer servicing to Kuban Branch of ZAO Raiffeisenbank Austria. We areplanning to develop this business area not only in big cities of thesouth, but also in other actively developing cities, such as, forexample, Sochi, Novorossiysk, Armavir where active housing constructionis under way, demand for housing is constantly growing among the solventpopulation, and interest in mortgage loans is growing too".

"Moreover, we invite to cooperation branches of Russian banks andregional banks working engaged in mortgage loans in the south of Russia,and we see here a mutual long-term interest: Raiffeisenbank isinterested in additional channel of mortgage portfolio growth;banks-pool sellers are interested in a fair commission for the selectionof standardized mortgage assets. Definitely, active consolidation ofmortgage assets pools not only in Moscow but also in regional anddistrict centers of the federal subjects will create prerequisites foractive development of the mortgage market in Russia in future," saidNatalya Gribkova.

Alexey Lipyavkin, Director of Krasnodar Branch of Moscow Bank forReconstruction and Development, believes:"The further cooperation ofour branches will help to considerably extend the limits of the mortgagemarket of Krasnodar Krai, will help offer the population of the regionquality, favorable, and affordable housing loans. The following yearwill be decisive for the development of mortgage lending and businesspartnership between Moscow Bank for Reconstruction and Development andRaiffeisenbank will considerably influence the formation of the supplyin this segment of the market."

"The bank has a universal line of mortgage products which allows theclient to make the best choice," said Igor Slavinsky, Director of theFinancial and Stock Market Department of Krasnodar Krai."Acquisition ofthe mortgage loan pool by Kuban Branch of Raiffeisenbank is indicativeof the financial market maturity, the rapid growth of mortgage lendingin Krasnodar Krai and of the development of competitive struggle ofbanks for customers."

In addition to the traditional apartment mortgage in the secondarymarket, Raiffeisenbank among very few others grants loans foracquisition of accommodation in houses under construction, foracquisition of cottages, land lots, multi-purpose collateral loans onsecurity of real estate, refinancing of existing loans in other banks.Over the six months of the Branch activities the retail credit portfoliohas amounted to about 200 million rubles, including mortgage loans inthe amount of near 40 million rubles.

Kuban Branch was opened in June 22, 2006, and has become the largestregional branch of ZAO Raiffeisenbank Austria in the South FederalDistrict and is the seventh largest regional branch in Russia. TheBranch offers a full range of banking services to its individual andcorporative customers, residents and non-residents, both in rubles andin foreign currency.

ZAO Raiffeisenbank Austria is ranked 9th in terms of assets amongRussian banks based on Q3/2006 results (Interfax-CEA). At present, theBank has 21 branches in Moscow, 5 branches in Saint Petersburg andregional branches in Yekaterinburg, Samara, Novosibirsk, Chelyabinsk,Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. In terms of thecorporate credit portfolio Raiffeisenbank ranks 9th based on Q3/2006results (Interfax-CEA). Among the leading retail banks of Russia,Raiffeisenbank ranks 8th both in terms of private lending and privatedeposits based on Q3/2006 results (Interfax-CEA).

ZAO Raiffeisenbank Austria is an affiliate of RaiffeisenInternazional Bank Holding AG (Raiffeisen Internazional), withsubsidiary banks and leasing companies in 16 CEE markets. The Bankserves 11.7 million customers at more than 2,775 business outlets, andalso has representative offices in Lithuania and Moldova. RaiffeisenInternational is a fully consolidated subsidiary of RaiffeisenZentralbank Osterreich AG (RZB), which owns 70 per cent of the commonstock. The remaining 30 per cent is free float; the shares are traded onthe Vienna Stock Exchange. RZB is a leading corporate and investmentbank in Austria and the central institution of the Austrian RaiffeisenBanking Group, the country''s largest banking organization.


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