RUSSIAN BANKERS ON RIGHT ROAD: RAIFFEISEN BOSS

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MOSCOW, July 28 (RIA Novosti) - The Moscow-based newspaper Vedomosti is carrying an interview with Michel Perirain, Raiffeisenbank Austria board chair, on current Russian banking developments.

The Russian banking network has taken the right road, and will fully satisfy economic and popular demands within a mere ten years. Capital concentration in present-day Russia is bolstering up banks, said the interviewee.

He does not think this month's dire events ought to be regarded as an overall banking crisis-merely particular banks' problems. Situations as that are normal for whatever emergent banking system. The crisis cloud had a silver lining-it prompted Russia to bring its banking sector into order, he pointed out.

The Raiffeisenbank Austria is affiliated to the Raiffeisen banking group-a giant present in 25 or more countries in all parts of the world, with lump assets exceeding 115 billion Euro. The Raiffeisenbank was one of the first Western-based banks to penetrate Russian provinces. It aims eventually to acquire 1.5% to 2% of the Russian finance market, says its boss. That is why the bank focuses attention at developing a regional network. It is planning to establish, by June 2006, ten regional branches, at the least, in particular, in Yekaterinburg, Nizhni Novgorod, Samara, Vladivostok and Novosibirsk-an ambitious geography involving every part of the host country.

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