Raiffeisen expands retail services, courting high earners

Raiffeisen Bank Polska has announced it will begin offering savings accounts for individuals as of January next year. "Retail banking is one of the most robust areas of the Polish financial sector," said Raiffeisen banker Michael Hanlon. "Our offer expands the options for clients." Raiffeisen's entry into retail banking dates back two months, when it introduced deposit accounts for individuals. The bank has been so encouraged by the response that its seeks to attract more customers by expanding its services which, according to Hanlon, will include exceptional options for customers, although he failed to specify them. Nevertheless the issuance of the Visa Classic and electronic payment cards are certain to be included. Raiffeisen will also install automated teller machines (ATM) at its outlets. Raiffeisen next plans to extend its services to include household loans and mortgages. The bank intends, however, to target exclusively the high-income group, estimated to be about five million in Poland. The bank's target is to capture about 10% of this market within the next five to ten years. "It should be possible to lure potential high earners by taping them when theye are still in college," believes Hanlon (Gazeta Wyborcza, p. 6