Regional News:
Raiffeisen Bank Aval celebrates 20th Anniversary
20.4.2012 14:42:00 | Author/Source Limun.hr
Raiffeisen Bank Aval, the Ukrainian subsidiary of Raiffeisen Bank International AG (RBI), celebrates today its 20th anniversary with a customer event in Kiev. The bank was established in March 1992 among the first commercial banks in Ukraine. Due to its successful cooperation with the Pension Fund of Ukraine, the Ukrainian Post and the State Customs Service, it successfully obtained a top position in the Ukrainian banking sector. The Austrian Raiffeisen Banking Group became the major shareholder in 2005, when it acquired 93.5 per cent of the bank for USD 1,024 million. With this purchase price, it is until today the largest acquisition of the Austrian Raiffeisen Banking Group. This acquisition also set a benchmark for the Ukrainian banking sector and underlined the attractiveness of the local market for foreign investments. Under the ownership of RBI, Raiffeisen Bank Aval went through its most successful period and – triggered by the international financial crisis – also through its most difficult and challenging times.
After 20 years, the financial institution still keeps its leadership in many areas. Now, Raiffeisen Bank Aval operates as a universal bank with an expanded range of products and services for retail customers, including the premium segment, as well as SME and corporate clients. "We service almost 3.4 million customers in Ukraine, which is more than in any other country Raiffeisen is operating. This underlines our excellent market position in Ukraine," said Herbert Stepic, CEO of RBI. Raiffeisen Bank Aval ranks number 4 in terms of customer loans and provides its services through a network of more than 900 branches. "With a staff of over 15,200 we are also among the most important employers in the country," Stepic added.
"During the recent years, we have been focused on the reshaping of our business model, improving of our processes and product line, and on cost optimization. All this resulted in our recently announced IFRS results for 2011 and specifically, our profit after tax of € 47 million, which is another reason for pride. These results underline that our bank has overcome the implications of the financial crisis. Special thanks go to our staff, who managed to maintain our clients’ confidence through their daily hard work and dedication", said Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval.
Raiffeisen Bank Aval was founded in 1992 under the name of Aval JSC. In 2005, Raiffeisen International Bank-Holding AG purchased a stake of 93.5 per cent in the bank. In 2006, JSPPB Aval changed its name to Raiffeisen Bank Aval OJSC. Today, Raiffeisen Bank Aval’s more than 15,000 employees service about 3,400,000 customers via a network of 909 business outlets. RBI is also represented in Ukraine by a leasing unit, an asset management company and the Ukrainian Processing Center (UPC). As at the end of 2011, Raiffeisen Bank Aval ranked fourth in the Ukrainian banking sector in terms of total assets (€5.47 billion).
After 20 years, the financial institution still keeps its leadership in many areas. Now, Raiffeisen Bank Aval operates as a universal bank with an expanded range of products and services for retail customers, including the premium segment, as well as SME and corporate clients. "We service almost 3.4 million customers in Ukraine, which is more than in any other country Raiffeisen is operating. This underlines our excellent market position in Ukraine," said Herbert Stepic, CEO of RBI. Raiffeisen Bank Aval ranks number 4 in terms of customer loans and provides its services through a network of more than 900 branches. "With a staff of over 15,200 we are also among the most important employers in the country," Stepic added.
"During the recent years, we have been focused on the reshaping of our business model, improving of our processes and product line, and on cost optimization. All this resulted in our recently announced IFRS results for 2011 and specifically, our profit after tax of € 47 million, which is another reason for pride. These results underline that our bank has overcome the implications of the financial crisis. Special thanks go to our staff, who managed to maintain our clients’ confidence through their daily hard work and dedication", said Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval.
Raiffeisen Bank Aval was founded in 1992 under the name of Aval JSC. In 2005, Raiffeisen International Bank-Holding AG purchased a stake of 93.5 per cent in the bank. In 2006, JSPPB Aval changed its name to Raiffeisen Bank Aval OJSC. Today, Raiffeisen Bank Aval’s more than 15,000 employees service about 3,400,000 customers via a network of 909 business outlets. RBI is also represented in Ukraine by a leasing unit, an asset management company and the Ukrainian Processing Center (UPC). As at the end of 2011, Raiffeisen Bank Aval ranked fourth in the Ukrainian banking sector in terms of total assets (€5.47 billion).
