OREANDA-NEWS  On 11 November was announced, that Open Joint Stock Company "Raiffeisen Bank Aval" received another loan from Raiffeisen Zentralbank Osterreich AG (RZB). The USD 150 million Term Loan Facility was signed at the end of October and will mature on 31 December 2009 with an option to be extended until 31 December 2010. A previous loan amounted to USD  180 million and was granted by RZB to Raiffeisen Bank Aval on 13 October 2008.

"Another large loan from our ultimate owner RZB confirms the Raiffeisen Group’s strong commitment to Ukraine", said Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval. "This loan was provided within our funding plan for 2008", he added.

Raiffeisen Bank Aval, founded in March 1992, is one of the largest Ukrainian banks in terms of a number of core parameters. For example, the bank’s total assets amounted to almost UAH 52.5 billion as at 1 October 2008, up 18 percent on the full year 2007, making it the number two on the local market.

Raiffeisen Bank Aval is a subsidiary bank of Raiffeisen International Bank-Holding AG. Raiffeisen International operates one of the largest banking networks in Central and Eastern Europe. 17 markets in Europe's growth region are covered by subsidiary banks, leasing companies and a range of other financial service providers. Over 14 million customers are serviced in more than 3,000 business outlets. RZB is the central institution of the Raiffeisen Banking Group and the majority shareholder of Raiffeisen International owning more that two thirds of the stock listed company.