RBL expects over 70m euros in contracts

Deposits attracted by Raiffeisen Banca pentru Locuinte (Raiffeisen Housing Bank - RBL) as part of saving-crediting contracts could exceed 70 million euros by the end of the year. "At the end of last year, deposits stood at almost 28 million euros, a three-fold increase against December 2004. We are confident that the upward trend will maintain, and we expect to reach 70 million euros, maybe even 80 million, by the end of this year," stated Johann Ertl, general manager of Raiffeisen Bausparkasse Austria, one of the shareholders of RBL. Raiffeisen Bausparkasse has 1.7 million clients in Austria, with deposits amounting to almost 6 billion euros, valuing on average, a contract worth 25,000 euros. The average saving period extends to 6 years, while credits have a 14-year maturity. RBL offers contracts with a minimum saving period of 18 months, while the maximum reimbursement period can reach 16 years.