Raiffeisen International collaborates with Capgemini to ensure smooth integration of IMPEXBANK with its local subsidiary.
I enjoyed the cooperation with the Capgemini team and always had the feeling that you have been part of our Raiffeisenbank. You did a wonderful job and made an important contribution for the successful merger of Raiffeisenbank and IMPEXBANK. Dr. A. R�chling, ZAO Raiffeisenbank
As a major banking group in its region, Raiffeisen International serves 14.4 million customers in 17 markets.
With a vision to becoming a leading foreign banking group in Russia and sustain dynamic growth over the long term, Raiffeisen International acquired IMPEXBANK in 2006. The acquisition, the largest in Raiffeisen International’s history, gave the Group access to IMPEXBANK’s strong network of branch offices in Russia and led to an integrated bank with a million customers in 48 regions throughout Russia.
Integrating IMPEXBANK’s comprehensive retail banking network with Raiffeisen International’s banking subsidiary, Raiffeisenbank, was complex due to the diverse nature of both entities.
Capgemini supported Raiffeisen International to develop and implement a post merger solution. Aware of the need for speed in successful Post Merger Integrations (PMI), Capgemini entered into a well structured 14 month engagement with Raiffeisenbank.
With Capgemini as a trusted partner, Raiffeisen International was able to fulfill shareholder commitments by concluding the merger activities on time and within budget. It facilitated a harmonized product catalog combining services and products of both former entities.
While profitable service offerings were retained, an exit plan for unprofitable products was created. As a result, Raiffeisenbank was able to substantially improve its cost-to-income ratio for its product portfolio. In addition, Capgemini’s hands-on approach to optimize the branch operational model as well as underlying IT architecture allowed Raiffeisenbank to continue its organic growth with the opening of 80 branches in 2007.
“This merger is a decisive step towards continuing our successful track record in Russia. With the integration of IMPEXBANK, I am confident that we will prolong our dynamic growth.”
-- Dr. H. Stepic, CEO, Raiffeisen International Bank-Holding AG