02.12.2006 /Operations
 ZAO Raiffeisenbank Austria and OAO Impexbank unite under a single brand, managing board for the combined bank appointed
Raiffeisen International AG has announced its decision on the brand name of the unified bank and its plan to reorganize OAO Impexbank as part of ZAO Raiffeisenbank Austria. The Managing Board of the combined entity and the Board’s Chairman have been appointed. All of these decisions are now subject to review and registration by the relevant regulatory authorities of the Russian Federation. In Russia the unified bank will operate under the Raiffeisen brand, retaining the current name ZAO Raiffeisenbank Austria. This decision was made following a meticulous and comprehensive analysis of both banks’ structures and the future strategy of the integrated bank. We note that in virtually every country where the Raiffeisen International bank holding operates, the Raiffeisen brand is used, the only exception being countries where the market share of the acquired bank is sufficiently high to justify the retention of its brand, in some cases supplemented with the Raiffeisen brand. Johann Jonach has been appointed Chairman of ZAO Raiffeisenbank Austria’s unified managing board, which includes senior executives who served in similar positions as Members of the Managing Boards of the banks as previously constituted. The Managing Board of the integrated bank includes (listed in the Russian alphabetic order): - Vorobiev Roman;
- Gourine Pavel;
- Jonach Johann;
- Korovin Alexey;
- Lysenko Pavel;
- Monin Sergey;
- Tikhonycheva Elmira;
- Ouchakov Alexandre;
- Schoefboeck Christoph.
As Heinz Wiedner, board member of Raiffeisen International Bank-Holding AG in charge of both banks’ integration, pointed out: "We are pleased to announce that next steps in the integration process have been taken on schedule, by the end of 2006, as planned. The brand name of the future bank, Raiffeisen, has been determined and announced. The Managing Board of the integrated bank includes all the key members of the Managing Boards of both banks, which is very important, as we have previously stressed, because the professionalism of Impexbank’s employees and managers was one of the main factors in our decision to purchase the bank". "The completion of the legal integration is planned for 2007. Our decision and announcement on one of the principal issues of the integration process has taken us past an important milestone. It was among the questions our banks were asked most frequently, so we are very pleased to be able to give the answer." explained Johann Jonach, Chairman of the Board of ZAO Raiffeisenbank Austria. A number of steps have already been taken to ensure first and foremost convenience for clients. Impexbank and Raiffeisenbank ATM networks have been integrated, some Impexbank branches now offer products of Raiffeisen Asset Management Company and Non-State Pension Fund Raiffeisen. Customers of Raiffeisenbank can now make their monthly payments for rouble-denominated loans at Impexbank branches. On business side both banks have already joined forces for operations on financial markets and management of credit and financial risks. Raiffeisenbank Austria, ZAO and Impexbank, OAO are subsidiaries of Raiffeisen International Bank-Holding AG (Raiffeisen International). Raiffeisen International operates one of the leading banking networks in CEE with subsidiary banks and leasing companies in 16 markets. More than 11 million customers are attended through more than 2,700 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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