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ZAO Raiffeisenbank To Modernise Its Regional Network

ZAO Raiffeisenbank has announced the beginning of a new phase of reorganisation of its regional network as part of the plan developed after the legal merger of OAO Impexbank with ZAO Raiffeisenbank on 27 November 2007.

ZAO Raiffeisenbank has embarked on a key phase of the operational merger: the optimisation of the regional network through the unification of branches  type A (the former Raiffeisenbank Austria) and B (the former Impexbank)  both extant in the regions where the bank is present, and the reorganisation of the whole set of regional Network Banks and operational cash offices.

As Pavel Gurin, CEO of ZAO Raiffeisenbank, noted, The measures taken to unify the Network Banks and reorganise the Network Banks as operational offices will allow us to conclude the operational merger of the two banks branch networks, as well as finish the formation of a new, common technological platform and of a maximally effective operational model for service to clients, who will receive access to the most modern in banking technology and a universal line of banking products.

As of today, the mergers of the Network Banks in Krasnodar, St. Petersburg, and Ekaterinburg have been accomplished through the closure of B-type branches. In November and December 2009, Network Banks in Chelyabinsk, Perm, Nizhniy Novgorod, and Krasnoyarsk will be merged in the same way, followed by the Network Banks in Novosibirsk in March-April 2010. In all the abovementioned cities, ZAO Raiffeisenbanks Network Banks will continue to serve current and future customers.

The network reorganisation programme assumes the opening of operational cash offices on their bases on an IT platform that corresponds to the Raiffeisen Groups latest standards. The number of structural subdivisions in the bank is not changing, and clients of the reorganised branches will continue to be served at the operational offices of ZAO Raiffeisenbanks regional network.

By 2011, the structure of ZAO Raiffeisenbank will include the head office, supporting branches, located, as a rule, in the centres of federal districts, and a network of operational offices that will expand the banks presence in the regions.

Now, the reorganizations of the Zheleznogorsk and the Southern Regional Centre branches are in process. The Zheleznogorsk branch will be reorganised into an operational office under the central office in Moscow. The Rostov, Volgograd, Anapa, Taganrog, Stavropol, and Essentuki branches will become Operational Offices of the Southern RC (Krasnodar). According to the plan a number of Raiffeisenbanks branches are scheduled for reorganisation by the end of 2011.

At the same time ZAO Raiffeisenbank goes on increasing its regional presence. Before the end of 2009, the bank plans to open several sales units in Moscow, St. Petersburg, Ekaterinburg, Sochi, Rostov-on-Don, and Volgograd. All of them, according to the plan that has been set, will open as operational offices.

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 3Q 2009 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 5th in Russia in terms of private deposits and 8th in consumer lending in Russia based on 3Q 2009 results.

Raiffeisen International operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The groups nearly 59,000 employees service around 15 million customers via more than 3,100 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, with the shares 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 countrys largest banking group.


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