RAIFFEISEN BANK AVAL AGAIN NAMED BEST BANK IN UKRAINE BY EUROMONEY MAGAZINE
"When the going gets tough, the tough get going," Raiffeisen Bank Aval's Approach to 2009/2010

ENP Newswire, London, UK, Thursday, July 15, 2010

KYIV - On July 8 at a gala dinner in London, the esteemed British financial Euromoney magazine announced the winners of its Awards for Excellence - the most prestigious awards in the global banking industry.  The dinner was attended by 450 of the leading bankers and investment bankers from around the world.

Raiffeisen Bank Aval was awarded the title of Best Bank in Ukraine. ‘When the going gets tough, the tough get going. That’s the message behind Raiffeisen Bank Aval’s approach over the 2009/10 period when Ukraine was hit by the twin evils of a sharp economic contraction and a currency devaluation, which wreaked havoc on many of its rivals’, reported the July issue of Euromoney.

It is a very prestigious award for Raiffeisen Bank Aval, especially in view of the difficult economic environment it had to operate in during the past year. Thanks to its prudent approach to investing, its financial strength and a renewed focus on efficiency, Raiffeisen Bank Aval maintained its position on Ukraine’s banking market as the largest foreign bank and fourth among commercial banks in terms of total assets.

‘In 2009 Raiffeisen Bank Aval confirmed its reputation as a solid and reliable financial institution, in particular thanks to implementation of strict limits on lending in foreign currency even before the National Bank of Ukraine imposed the relevant prohibition’, said Euromoney.

Euromoney also recognized Raiffeisen Zentralbank Osterreich AG (RZB) as Best Bank in Austria and Raiffeisen Bank in Albania won the award of Best Bank at the local market.

Since 1992 Euromoney, the world’s leading financial markets magazine, has singled out the outstanding institutions in finance. Over the years, the Awards for Excellence have evolved with the markets they cover. They now incorporate 25 global awards for banking and capital markets; and awards for the best banks and securities houses in almost 100 countries around the world.

All the awards have one central theme - they recognise institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel. Banks are invited to submit their credentials for the awards which, after analysis and interview, are decided by a committee of senior Euromoney journalists chaired by the magazine’s editor, Clive Horwood.

NOTE: RZB Finance, USA, a wholly owned subsidiary of Raiffeisen Zentralbank Osterreich AG (Austria) is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org.