Raiffeisen Exclusive, the brand under which Raiffeisen Bank's private banking service operates, has now reached 700 clients, up by almost 200 people against April. The volume of assets it manages has also climbed by some 30 million euros, to approximately 230 million euros. The average value of a portfolio is therefore approaching 330,000 euros.
The bank has opened specialised locations in the big cities - Bucharest, Brasov, Constanta, Timisoara and Iasi - with a personal banker being allocated for each client, who is familiar with their risk appetite and their investment portfolio.
Raiffeisen's private banking offer has a two-level structure: a basic service package for clients who have at their disposal sums ranging from 40,000 to 100,000 euros, and a more diversified package, with more investment options, for clients who have available funds of over 100,000 euros, which in fact is the minimum threshold for the private banking offer on the domestic market.
"Clients having at their disposal funds of over one million euros and who wish to have more sophisticated portfolios, can also use financial instruments on the foreign markets through the Kathrein & Co bank - the private investment bank of Raiffeisen Zentralbank ?sterreich," says Octavia Cutus, manager of the private investment department of Raiffeisen Bank Romania.
Launched a year ago, the service is dedicated to major individual clients.
"Our aim is for Raiffeisen Exclusive to be a place where the client has direct communication with their personal banker, and to be advised on financial services and investments in a relaxed, personalised space," says Razvan Munteanu, vice-president of Raiffeisen Bank. Increasingly more banks, including medium-size and small-size ones (Credit Europe, Piraeus, Leumi and Bank of Cyprus), as well as banks from abroad - are starting to look at the segment of clients that have available above the average sums in cash, They are counting on seeing an increase in personal wealth, alongside the increase in incomes.
For instance, UniCredit has included a more aggressive private banking approach in its growth strategy for the next three years, with help from the group's specialised bank, based on the structure already developed at the former HBV Tiriac bank and which counted around 1,000 clients in spring, with a wealth of cash of over 100,000 euros.
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