OREANDA-NEWS. January 28, 2008. Since the beginning of the year, ZAO Raiffeisenbank has extended the boundaries of its operations, and with the aunch of a new branch in Mytishchi at 2/3 Kamarova St. is now represented in the Moscow Region, the bank's press service announced. Commenting on the event, Johann Jonach, the CEO of ZAO Raiffeisenbank, stressed: "The opening of this new branch is the latest step in the development of Raiffeisenbank’s network. This is not only the first branch opened since Raiffeisenbank and Impexbank merged, but also the first fully fledged office of Raiffeisenbank in the Moscow Region, offering the same range of products as its Moscow neighbors. I hope that in the near future Raiffeisen will have enough branches to ensure maximum service comfort all the residents of the Moscow Region."

The new branch offers a full range of retail banking services and products: current accounts, debit cards, time deposits, and all retail lending programs (mortgages, auto and consumer loans, credit cards). The branch also provides comprehensive consulting on the services offered by the bank's subsidiaries Raiffeisen Capital Management Company and Raiffeisen Private Pension Fund. Safety deposit boxes are available for lease at the branch and are accessible Monday through Friday from 9:00-18:00. The working hours of the branch are the same as those for all other Raiffeisen institutions: Monday through Friday, 9:00- 20:00; 10:00-17:00 on Saturdays; closed on Sundays.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 7th in terms of assets among top Russian banks based on Q3 2007 results (Interfax-CEA). Raiffeisenbank is ranked 7th in terms of corporate lending based on Q3 2007 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 Q3 2007.

Raiffeisen International Bank-Holding AG (Raiffeisen International) operates the largest banking network in CEE. 18 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies, two representative offices and a number of other financial service providers. Over 13 million customers are attended to through more than 3,000 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 68.5 per cent of the common stock. The balance per cent is free float, the shares are traded 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.