Raiffeisen International to launch new direct bank in Central and Eastern Europe

Newsroom 07/12/2009 | 14:47

“Our new direct bank will address the unique needs and interests of internet-focused customers, who represent a fast-growing group in Central and Eastern Europe. By delivering cutting-edge online products and services to this distinct customer segment, the direct bank will ideally complement our traditional ‘bricks-and-mortar’ offerings and contribute to the further strengthening of our group’s liquidity,” said Herbert Stepic, Raiffeisen International’s CEO.

“By investing in a new direct bank, we are also underlining our commitment to Central and Eastern Europe and our conviction that the region’s convergence process will continue.”

The Austrian Financial Market Authority granted the relevant banking license for the direct bank, which will be based in Vienna and operate as a subsidiary of Raiffeisen International under an Austrian banking license.

The Single European Passport principle allows the new direct bank to enter the banking market in another EU member state simply by following a notification procedure with the competent regulatory authorities. Raiffeisen International operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers.
Anda Dragan

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