Raiffeisen Bank is a universal bank on the

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

n market, providing a complete range of products and services to private individuals, SMEs and large corporations via multiple distribution channels: banking outlets (more than 350 throughout the country), ATM and

EPOS The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice ...

networks, phone-banking (Raiffeisen Direct) and

mobile-banking Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses ...

(myBanking).

History

Raiffeisen Bank Romania has resulted from the merger in June 2002 of the two Raiffeisen Group banks present on the local market Raiffeisenbank (Romania) S.A., established in 1998 as a subsidiary of RZB Austria and Banca Agricola Raiffeisen S.A. established in April 2001, after the take over by RZB Austria of the Romanian state-owned Banca Agricola. After the privatization, Raiffeisen Bank managed a turnaround – at the end of 2004 it posted a net profit of EUR 28.3 million, six times higher than the one registered in 2003 (EUR 4.6 million). Total assets more than doubled as compared to the previous year, reaching more than EUR 2,000 million. In 2005 the bank continued to implement a significant investment plan focused mainly on the infrastructure and IT&C systems, the modernization of the branch network and extension of ATM and POS networks. The bank services more than 2 million customers. These results were recognized by well-known foreign and Romanian publications. The British magazine

Euromoney ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...

awarded Raiffeisen Bank the title “Best investment bank in Romania”, while '' Global Finance'' nominated Raiffeisen Bank “Best Bank in Romania” for two years in a row, 2004 and 2005. On March 20, 2013 it took over the retail credit division of

CitiBank Romania Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Ba ...

References

External links

Official Website
Banks of Romania Raiffeisen Zentralbank Banks established in 2002 Romanian companies established in 2002 {{Authority control