In June 2010, Raiffeisenbank exhibited solid growth in its retail credit portfolio, which grew by 2.3%. On this metric, Raiffeisenbank exceeded the market average for the first time in six months.
Starting in March of this year, the retail credit portfolio has grown steadily on a month-to-month basis. The uncollateralised credit portfolio was the main contributor to growth, increasing by 4.4%. In addition, the mortgage portfolio grew by 0.6%.
The large volume of unsecured loans and mortgages issued in June 2010 was achieved by consistently implementing Raiffeisenbank’s strategy, which is based on building mutually beneficial long-term partnerships with clients. Following this approach, Raiffeisenbank offered unique terms to clients, including mortgage rates starting at 10% and consumer credit rates from 13.5% and up.
«Our success in June is no accident, but a testament to the validity of our approach. We build long-term partnerships with our clients, and that’s Raiffeisenbank’s strategy of choice» — noted Andrey Stepanenko, Member of the Board of Raiffeisenbank, Head of Retail Private Individuals Directorate.
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 Q1 2010 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 5th in Russia in terms of private deposits and 9th in consumer lending in Russia based on Q1 2010 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 56,000 employees service around 15 million customers via more than 3,000 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB), which owns 72.8 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.