Raiffeisen International AG has announced its decision on the brand nameof the unified bank and its plan to reorganize OAO Impexbank as part ofZAO Raiffeisenbank Austria. The Managing Board of the combined entityand the Board’s Chairman have been appointed. All of these decisions are now subject to review and registration by the relevant regulatory authorities of the Russian Federation.
In Russia the unified bank will operate under the Raiffeisen brand,retaining the current name ZAO Raiffeisenbank Austria. This decision wasmade following a meticulous and comprehensive analysis of both banks’ structures and the future strategy of the integrated bank. We note that in virtually every country where the Raiffeisen International Bank - Holding operates, the Raiffeisen brand is used, the only exception being countries where the market share of the acquired bankis sufficiently high to justify the retention of its brand, in some cases supplemented with the Raiffeisen brand.
Johann Jonach has been appointed Chairman of ZAO RaiffeisenbankAustria’s unified managing board, which includes senior executives who
served in similar positions as Members of the Managing Boards of the
banks as previously constituted. The Managing Board of the integrated
bank includes (listed in the Russian alphabetic order):
As Heinz Wiedner, board member of Raiffeisen International Bank-HoldingAG in charge of both banks’ integration, pointed out: “We are pleased to announce that next steps in the integration process have been taken on schedule, by the end of 2006, as planned. The brand name of the future bank, Raiffeisen, has been determined and announced. The Managing Board of theintegrated bank includes all the key members of the Managing Boards of both banks, which is very important, as we have previously stressed, because the professionalism of Impexbank’s employees and managers was one of the main factors in our decision to purchase the bank.”
“The completion of the legal integration is planned for 2007. Our decision and announcement on one of the principal issues of the integration process has taken us past an important milestone. It was among the questions our banks were asked most frequently, so we are verypleased to be able to give the answer.” explained Johann Jonach, Chairman of the Board of ZAO Raiffeisenbank Austria.
A number of steps have already been taken to ensure first and foremostconvenience for clients. Impexbank and Raiffeisenbank ATM networks havebeen integrated, some Impexbank branches now offer products ofRaiffeisen Asset Management Company and Non-State Pension FundRaiffeisen. Customers of Raiffeisenbank can now make their monthlypayments for rouble-denominated loans at Impexbank branches. On businessside both banks have already joined forces for operations on financialmarkets and management of credit and financial risks.
Raiffeisenbank Austria, ZAO and Impexbank, OAO are subsidiaries ofRaiffeisen International Bank-Holding AG (Raiffeisen International).Raiffeisen International operates one of the leading banking networks inCEE with subsidiary banks and leasing companies in 16 markets. More than11 million customers are attended through more than 2,700 businessoutlets. Representative offices in Lithuania and Moldova complement theGroup''s presence in the region. Raiffeisen International is a fullyconsolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB),which owns 70 per cent of the common stock. The remaining 30 per cent isfree float, the shares are traded on the Vienna Stock Exchange. RZB is aleading corporate and investment bank in Austria and the centralinstitution of the Austrian Raiffeisen Banking Group, the country''slargest banking group.