OREANDA-NEWS. March 26, 2012. ZAO Raiffeisenbank Russia was awarded the title "Best Foreign Bank 2011" by the renowned banking portal www.banki.ru during their annual "Bank of the Year" awards ceremony, reported the press-centre of Raiffeisenbank.

Winners were selected by the portal’s users in a two-stage vote. In a first stage, the users voted for the best banks of the last year in various categories, which resulted in the selection of the top three banks in each category. In the second stage, a panel of eight experts named the winner in each category. The panel was composed of seven portal users (chosen from the 50 most active users) and a www.banki.ru representative.

"This award is a further evidence of our high-class customer service and also of the quality of our products and services", said Sergey Monin, Chairman of the Board of ZAO Raiffeisenbank.

With a network of 192 business outlets, Raiffeisen is represented in 45 regions of the Russian Federation. ZAO Raiffeisenbank was founded in 1996. "The award "Best Foreign Bank 2011" received by Raiffeisenbank Russia is a confirmation of our entrenchment in Central and Eastern Europe, which we think will remain the most important European growth region. The recognition is an incentive to continue our ongoing efforts to offer our customers the tailor-made financial services they require," said Herbert Stepic, CEO of Raiffeisen Bank International AG.