Kyiv Post's Best of kyiv 2010: Raiffeisen Bank Aval
Kyiv Post readers and experts said Raiffeisen Bank Aval delivers the best services in retail banking for a whopping seventh time.
It must be doing something right because, for the third year running, its chief executive officer, Volodymyr Lavrenchuk, was recognized as the best manager in the banking sector of Ukraine by the Ukrainian Guard of Managers in 2010.
Raiffeisen Bank Aval also again took first place in market research company GfK Ukraine’s regular image survey of the largest Ukrainian banks, conducted in September.
The bank is Ukraine’s largest foreign-owned bank in terms of assets and liabilities and is the second largest non-state owned bank, or fourth overall. As of October, it had 6.1 percent of total assets in the banking sector.
Although it took a hit during the recent global financial crisis, Raiffeisen managed a turnaround by increasing the total volume of deposits in 2009 in all currencies by Hr 169 million. It also reviewed 22,000 loans worth Hr 5 billion to avoid massive defaults and lengthy court hearings.
“In 2010, we continued restructuring our corporate loan portfolio; the majority of our clients renewed their production and were repaying their debts in a better way. The bank managed to shift to profitable activity, and this means that during the crisis we successfully implemented necessary process-improving and cost-saving exercises,” Lavrenchuk said.
Its parent company, Austrian-based Raiffeisen International Bank, posted a consolidated profit of $427 million for the first three quarters of 2010.
“We consider 2010 a very successful year for Raiffeisen Bank Aval, primarily because we saw a lot of signs of Ukrainians’ resumed confidence in the Ukrainian banking sector in general, and Raiffeisen Bank Aval in particular. Among these signs, the most important one is the growth of hryvnia and foreign currency deposits of private individuals,” Lavrenchuk said.
In total, more than 59,000Raiffeisen Bank International employees service about 15million customers through 3,000business outlets.
Raiffeisen Bank Aval
9 Leskova St.,
+38 044 490-8888
