OREANDA-NEWS  On 20 October was announced, that Raiffeisen Zentralbank Osterreich AG (RZB) provided a USD 180 million Term Loan Facility for Open Joint Stock Company "Raiffeisen Bank Aval". The facility was signed on 13 October 2008 and will mature on 31 December 2008 with an option to be extended till 31 December 2010.

"Also this deal is a good sign for the Ukrainian banking sector, which still attracts significant investments even in this time of financial turbulence", commented CEO of Raiffeisen Bank Aval Volodymyr Lavrenchuk. "This loan is a part of our funding strategy for 2008, which has been successfully implemented", said Lavrenchuk.

Raiffeisen Bank Aval, founded in March 1992, is one of the largest Ukrainian banks in terms of a number of core parameters. For example, the bank’s total assets amounted to almost UAH 52.5 billion as at 1 October 2008, up 18 per cent on the full year 2007, making it the number two on the local market.

Raiffeisen Bank Aval is a subsidiary bank of Raiffeisen International Bank-Holding AG. Raiffeisen International operates one of the largest banking networks in CEE (Central and Eastern Europe). 17 markets in Europe's growth region are covered by subsidiary banks, leasing companies and a range of other financial service providers. Over 14 million customers are serviced in more than 3,000 business outlets.