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Raiffeisenbank to Lower Interest Rates on Cash Loans

ZAO Raiffeisenbank is offering its clients updated conditions for consumer credit. Personal Credit interest rates have been decreased by 1%.

Credit amounts from 91,000 roubles to 450,000 roubles are now issued for a period of 12-36 months at an interest rate of 21.9% annually. For borrowers from Moscow, Saint Petersburg, Moscow Region, and Leningrad District, the maximum credit sum is 750,000 roubles and requirements for length of most recent employment has been lowered from 12 to 6 months. Third-party guarantees and registration of collateral are not required.

In September 2009, Raiffeisenbank had already implemented changes in cash loan tariffs, lowering interest rates by 3% to 22.9% annually.

Full information on fees for and advantages to Raiffeisen consumer credit may be found on the website under «Cash Credit».

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 group’s 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 country’s largest banking group.


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