<b>Russia</b>

January 01, 1999

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Headline: Russia Source: Euromoney Date: July 2001 Best bank: Raiffeisenbank Austria Best debt house: Renaissance Capital Best equity house: Brunswick UBS Warburg Best M&A house: ABN AMRO The changes to this year’s award categories had the biggest effect in Russia where Raiffeisen-bank Austria wins the award for best bank. Russian banks are slowly recovering from the implosion of the banking sector in1998, but even the best among them have not reached the level of trustworthiness and integrity that Russians would like. Many even of the more progressive and profitable banks are associated with one of the powerful Russian oligarch groups.         Moscow offers some spectacular sights but is short of trustworthy banks Raiffeisenbank (RZB) is a relatively small bank with four branches, but it does not come with the baggage of the past. It was set up as a full subsidiary of RZB Austria in 1996, and has penetrated the market with astounding speed. It is very well known in Moscow and ranks first among the foreign banks in most business areas: It is number one in terms of export contract volumes, number one in payments volume (3% of total), and number one in trade finance (5.6%

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Banking