The international finance magazine Global Finance has named Raiffeisenbank the best retail bank of 2008 in its «Best Russian Banks and Companies 2009» rating.
Global Finance's prestigious jury, which is made up of industry analysts and experts, conducted detailed research into the activities of Russia’s leading banks. The following criteria were examined: market share, company profits, the presence of a long-term strategy, the quality of management within the company, and efforts made to ensure the further improvement of management processes.
«The Russian economy is standing at a crossroads. One road will lead to the gradual recovery of the economy; the other, to a worsening of the symptoms of a recession,» says Global Finance’s owner, Joseph Giarraputo. «Represented in our rating are those companies and banks that will become the standard-bearers of the Russian economy if Russia goes down the first road.»
«We value the opinion of the respected publication Global Finance highly,» notes Andrei Stepanenko, head of the Consumer Banking Directorate and member of the Raiffeisenbank board. «This accolade confirms that the quality of our services is up to international standards. The level of service is connected not only with the idea of being prepared to fulfil clients' expectations, but also presumes that employees have a comprehensive knowledge of all banking products. In the future as well, we will strive to be prepared to act as professional client consultants at any given moment.»
ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on 1Q 2009 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 1Q 2009 results.
Raiffeisen International operates one of the largest banking networks in CEE. 17 markets in Europe's growth region are covered by subsidiary banks, leasing companies and a range of other financial service providers. The group’s more than 62,000 employees service over 14.9 million customers via more than 3,200 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 per cent of the common stock. The remainder is in free float, the shares are listed 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.