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Raiffeisen Bank in Albania impresses with RoE of 56.6 per cent.

Balance-sheet total up by 18 per cent to€ 1.65 bilion. Pre-tax profit of € 16.6 million. 57 per cent market share in deposits. Only bank with country-wide outlets.

Raiffeisen Bank Sh.a., Tirana, looks back on a very successful year2004. With a market share of over 50 per cent, it is by far thecountry’s largest bank. The balance sheet total grew by 18 per cent to € 1.65 billion. The bank generated a pre-tax profit of € 16.6 million (IFRS), despite of the vast investments for the restructuring of the bank after the acquisition by Raiffeisen International Bank-Holding AG(Raiffeisen International) in April 2004. (Income Figures of the previous year were according to Albanian Accounting Standards and are therefore not comparable). The respective Return on Equity of 56.6 per cent and the Cost/Income Ratio of 49.9 per cent are particularlyimpressing. The number of staff was increased by 8 per cent to a total of 1.026 by end of 2004.

“The Raiffeisen Bank has made a remarkable development since our acquisition last year, significantly expanding its leading position in Albania”, says Herbert Stepic, CEO of Raiffeisen International and Deputy CEO of Raiffeisen Zentralbank Oesterreich AG (RZB). He mentionsthe implementation of a modern internal banking system and the installation of 50 ATMs. Furthermore the bank modernized its branch network, reestablished the credit business and introduced VISA debit cards. In addition to that the bank invested more than 2000 stafftraining days to bring modern service standards and products to the Albanian market. For 2005 an additional 3000 training days are planned.

The restructuring and investment program will be continued throughout2005, with the opening of six new banking outlets and bringing thenumber of cash dispensing machines to 100. Those were virtually unknownin Albania, when Raiffeisen entered the market almost a year ago.

Raiffeisen Bank Sh.a., Tirana, is a 100 per cent subsidiary ofRaiffeisen International Bank-Holding AG (Raiffeisen International).Raiffeisen International is a steering unit bundling all major holdingsof Raiffeisen Zentralbank Oesterreich AG (RZB) in Central and EasternEurope (CEE). RZB is the central institution of the Raiffeisen BankingGroup, the leading banking group in Austria. RZB is a leading corporateand investment bank in Austria.


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