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RZB Group is Best Bank in Central and Eastern Europe and Central Asia
22 March 2002
Global Finance magazine has again selected Vienna based RZB Group (Raiffeisen Zentralbank Österreich AG) as "Best Emerging Market Bank in Central and Eastern Europe and Central Asia". The award follows last year's decoration of "Best Bank in CEE" and will be published in the May-issue. The award further underpins the RZB Group´s leading position in the region's growing markets, the more so as Tatra banka, RZB's subsidiary in Slovakia, was selected as top domestic institution in its local market, also for the second consecutive year.
"We appreciate this award very much. The second decoration in as many years is a clear recognition of our consistent quality-minded approach to the region. It confirms our aim of continuing expansion at a high pace while remaining a highly profitable banking network", says Herbert Stepic, Deputy Chairman of RZB-Austria’s Managing Board and responsible for international operations.
"The Best Emerging Markets Banks" survey is based on extensive analysis throughout the emerging market economies and world money centres. New York based Global Finance has performed this survey for the ninth time already. The magazine has a readership of more than 300,000 in 160 countries, reaching top-level executives and finance experts.
RZB is the head institution of the Raiffeisen Banking Group, the second largest banking group in Austria. RZB considers itself as a Central European Banking Group, operating a network of 13 banks with some 550 outlets in eleven CEE countries. According to preliminary figures, the RZB Group's balance sheet total as of 31 December 2001, is expected to expand by 20 per cent to EUR 43.7 billion. IAS-pre-tax profit will grow by 22 per cent to EUR 218 million and staff by 79 per cent to 14,100.
In 2001, among other decorations, the RZB Group was awarded the titles "Best Bank in Central and Eastern Europe" by Global Finance magazine and "Bank of the Year in Central and Eastern Europe" by The Banker.
