31.03.2007 /Credit cards
 Number of Raiffeisenbank Cards in Russia Hits 500,000.
Raiffeisenbank issued its 500,000th banking card in Russia this month. The total turnover for Raiffeisenbank’s cards inside and outside Russia topped USD 3.5 billion in 2006. Roman Vorobiev, Head of Retail Banking at Raiffeisenbank, noted: “We were the first bank with foreign ownership to issue cards in Russia. Passing the half-million milestone is a very good result for any bank and is particularly significant for us. Banking cards were one of our first products when we entered the retail market in 1999”. Raiffeisenbank is a member of both VISA International and MasterCard International and issues all the core banking cards available, from Electron to Gold, including those with credit limits. Customers are issued with current-account cards denominated in rubles, US dollars and euros. Raiffeisenbank began issuing credit cards in October 2003. Since February 2006, Raiffeisenbank offers its clients a revised credit card with a grace period, a move enabled by new legislation. Under the program, clients can take advantage of an interest-free period of up to 50 days from the purchase date, or choose to pay back the loan in instalments. In February 2007 Raiffeisenbank reduced its minimum credit limit for VISA Gold and MasterCard Gold credit cards from USD 5,000/RUR 150,000 to USD 3,500/RUR 100,000. In April 2006, Raiffeisenbank introduced its “Discounts for You” - bonus program, enabling Raiffeisenbank card holders to take advantage of special offers from the Bank’s partner businesses, which include shops, restaurants and travel companies. The program is upgraded on a regular basis, and the bank constantly strives to expand the number of partners offering discounts. Raiffeisenbank is ranked 10th in terms of assets among top Russian banks based on 2006 results (Interfax-ÑÅÀ). At present the Bank disposes of 24 branches in Moscow, 5 branches in Saint Petersburg and regional branches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. Raiffeisenbank is ranked 9th in terms of corporate lending based on 2006 results (Interfax-ÑÅÀ). Among the leading retail banks Raiffeisenbank is the 8th largest bank in Russia in terms of private deposits and 8th in terms of consumer lending based on 2006 results (Interfax-ÑÅÀ). ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen International Bank-Holding AG, which operates one of the leading banking networks in CEE with subsidiary banks and leasing companies in 16 markets. More than 12 million customers are served through more than 2,800 business outlets. Representative offices in Lithuania and Moldova complement the Group's presence in the region. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 70 per cent of the common stock. The remaining 30 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.
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 China UnionPay cards initial issue in Russia
From this very day Evrofinance Mosnarbank will begin to issue standard debit card in Russian Roubles bearing the CUP logo with “62” as the first 2 digits of PAN. Besides the CUP logo, the cards also bear the logo of Union Card, one of the biggest local bankcard organizations in Russia, thus the cards can be used both in the local network of Union Card in Russia and in the global network of China UnionPay. [Read...]
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