The bank will also focus on expanding its network, and will open 100 units by year-end.
“We cannot say that we are missing a product, infrastructure or a certain segment of clients. However, we are still allocating resources for important banking projects. We will also develop new products: for the corporate segment, we are working on multi-options products and electronic banking. We will extend Internet banking service for SMEs and corporations by adding complementary functions,” added Rangu.
Owing to major dynamics in the consumer and housing loan market, Raiffeisen will continuously add functions for these retail products, according to Rangu. “We are also implementing a new and quite extensive system for processing loan applications, which will determine the launch of new loan packages,” he said.
Some of the investments planned for 2007 will be forwarded to Raiffeisen subsidiaries. “The pension funds we have established in cooperation with Raiffeisen Asset Management, also require significant investment, while the brokerage services launched with Raiffeisen Capital&Investment will necessitate the development of Internet brokerage activities,” said Raiffeisen Bank’s IT&C Manager. For 2006-2007, Raiffeisen has allocated €3 million for the implementation of the Basel II international risk management agreement. In the operational sector, the bank has projects to centralize back-office and transaction processing activities.
