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Wednesday, January 16, 2019

Raiffeisenbank offers foreign currency services

Russia's Raiffeisenbank, a subsidiary of Raiffeisen Bank International, recently started offering a deal for small and micro businesses involved in foreign trade that could allow them to save more than 20 percent on foreign transactions.

The bank introduced a new package of cash and settlement services called "Currency" that offers favorable conditions for basic transactions in foreign currency, as well as online services for conducting foreign exchange transactions.

The package also allows companies to use corporate debit cards and has individual premium services for executives.

"The current service package is aimed at customers doing business primarily in Russia. The new package will be of interest to customers who work with foreign partners," Roman Zilber, the head of the premier and small business clients department, said.

Raiffeisenbank ranks ninth in Russia in terms of assets, fifth in terms of private deposits and seventh in consumer lending.

Raiffeisen Bank International is a fully controlled subsidiary of Raiffeisen Zentralbank. It was originally founded in 1996 as Raiffeisenbank Austria and has been established in its current form since 2007 following the merger of Raiffeisenbank Austria and Impexbank, which was acquired by Raiffeisenbank in 2006.