OREANDA-NEWS. October 21, 2010. According to Larisa Makarenko, the agency’s director of corporate ratings, the rating increase reflects consistently healthy asset quality throughout the recent crisis, a steady trend towards the recovery of pre-crisis financial measures, and the falling risks associated with uncertain macroeconomic conditions.

The rating is based on solid and well-developed market positions; the support of a major shareholder with a favourable international reputation; a positive assessment of asset quality; and access to federal government backing in the form of credit resources.

ZAO Raiffeisenbank is a major universal bank with well-established market positions controlled by Raiffeisen Bank International AG , one of the largest banking groups in central and eastern Europe. The Bank has an extensive branch network and operates in virtually all segments of the market. A top ten player in both corporate and personal loans and a leader in retail deposits, it is also building up its presence in leasing, small-business loans and asset/pension management. In late 2007 it merged with OJSC ImpExBank, which had been taken over by its parent group in May of the preceding year.