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Global Finance Names Raiffeisenbank the Best Internet Bank in Russia

International magazine Global Finance has named Raiffeisenbank the best internet bank for services to private clients in Russia according to its 2008 work in Central and Eastern European countries.

Global Finance's prestigious jury, which is made up of industry analysts and experts, conducted research into the activities of the world's leading banks. Attention was focused on the following criteria: a successful strategy for the attraction of and service to on-line clients, the variety of products offered, the expansion and constant improvement of the quality of internet services, growth in the number of on-line clients, and the design and functionality of the site.

One of the criteria that resulted in Raiffeisenbank's receipt of the award was the dynamic growth in the client base and the increase in the volume of payments made by clients through the Raiffeisen CONNECT electronic payment system.

«The development of electronic services is one of the highest priorities for Raiffeisenbank in working with the public. In 2008, the quality and convenience of operations conducted through the electronic banking system were rated by 260,000 of our clients. We are pleased to discover that Raiffeisen CONNECT’s high level of service has also been noted by an international professional publication such as Global Finance,» emphasized Andrei Stepanenko, manager of Individual Customer Services and a member of the board. «Our victory in the Best Internet Bank category in the Central and Eastern Europe division gives us the opportunity to say that Russian banks’ internet services are already fully capable of competing with similar services in Europe.»

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 1H 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 1H 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.


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