Despite unfavourable market circumstances, The Banque Raiffeisen in Luxembourg has experienced growth in the first semester of 2016.
During this period, the bank has successfully partnered with POST, its loans and credits have increased by 2.9% in relation to the national rate since 31 December 2015, and it has opened a new branch in Kirchberg ideally situated next to the shopping centre.
Private customer deposits have also dramatically increased by 4% during this period, contributing to a total increase of 0.6% overall of customer deposits. Since 20 May 2015, asset management, loans and credits have experienced growth rates of 1.2% and 5.9% respectively. Likewise, operational costs have experienced a slight increase of 0.8%.
Today, Raiffeisen has 25,000 members who share the company’s values and also benefit from “Avantages Opera”, which gives them discounted rates in return for their loyalty. Raiffeisen predicts that it has saved its members over €700,000 in 2016 through this package.
The partnership between POST Luxembourg and Raiffeisen Bank was implemented at the end of February 2016 and has offered clients benefits such as easy access to an online Raiffeisen savings account and the possibility of carrying out basic operations in most Raiffeisen branches. It has also developed a new type of savings account, the R-TOP account, which gives clients very attractive interest on their savings under certain circumstances.
