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Raiffeisenbank introduced a new seller-paying scheme for mortgage loans

Raiffeisenbank introduced to its customers a new seller-paying schemefor mortgage loans. From now on the whole amount indicated in thepurchase and sale agreement (including credit funds) can be transmittedto the seller after providing a written notice of placing theapplication for registration with the National Administration of theFederal Registration Service. Hence, from now on the clients have accessto a wider range of dwellings to choose from and buy on mortgage. Forthe time being the innovation is available only in Chelyabinck andEkaterinburg.

In accordance with the new seller-paying scheme for mortgage loans, theseller must provide a questionnaire, go through the intrabank checkingprocedure and act as a guarantor of the credit until the moment when theapartment is registered as the debtor''s property and as the bank''spledge. In case when the scheme is used, maximum loan amount is USD100,000 or equivalent in rubles.

Nowadays terms of paying the sellers play a very important role on the real estate market, especially in case of mortgage loans, therefore our new program is a result of our constant focus on our customers'' wishes, stated Roman Vorobiev, Member of the Managing Board responsible for Consumer Banking. In response to to the changing consumer market, Raifeisenbank is constantly improving its schemes of consumer lending.

The innovation in the product''s infrastructure results in higher risks(including fraud risks, because the client gets the loan earlier thanthe deal is registered by the Federal Registration Service), thereforethese changes caused certain modifications of the standard creditscoring system to prevent possible precedents.

CJSCRaiffeisenbank Austria is the 8th largest bank in Russia in terms of assets as of the 2nd quarter of 2006 (EAC Interfax). The Bank has 19 outlets in Moscow, 5 in St. Petersburg, and regional branches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod andKrasnodar. Raiffeisenbank is ranked 6th among the leading retail Russian banks in terms of volume of private loans, and 7th in terms of volume of private deposits, according to the data based on the results of the 2nd quarter of 2006 (Interfax Economic Analysis Centre). Raiffeisenbank is ranked 9th in terms of corporate credit portfolio, according to the data based on the results of the 2nd quarter of 2006 (EAC Interfax).

CJSCRaiffeisenbank Austria is an affiliate of Raiffeisen International Bank-Holding AG (Raiffeisen International), a holding company, controlling subsidiary banks and leasing companies in 16 markets in Central and Eastern Europe. The Bank serves 11 million clients at morethan 2700 business outlets. Raiffeisen International is a fully consolidated subsidiary company of Raiffeisen Zentralbank Austria AG (RZB), which owns 70 % of the common stock. The remaining 30 % is free float; the shares are traded on the Vienna Stock Exchange. RZB is the central institution of the Raiffeisen Banking Group, the principal corporate and investment bank, and the leading bank in Austria, as well as in Central and Eastern Europe.


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