Austria-based Raiffeisen Bank International’s
(RBI) direct banking arm Zuno has started operations in
Slovakia, the unit’s first entry into the Central and Eastern
European (CEE) market.
Zuno Bank said its core focus was on the
rapidly-growing segment of CEE online banking customers who rarely
visit branches.
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Herbert Stepic, chief executive of RBI and
chairman of ZUNO BANK’s supervisory board, said that ZUNO was an
“excellent complement” to RBI’s CEE branch network.
“It underlines our commitment to the region and
will in the long term significantly contribute to our Group’s
deposit base,” he said.
He added that providing simple and interesting
banking experience to its internet savvy customers was the bank’s
key approach.
Zuno Bank will initially offer free current
accounts, debit cards and term deposits and develop its portfolio
to meet basic banking needs, the bank said.
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By GlobalDataZuno customers in Slovakia can choose
from two banking models.
A “pay as you go” model, which is directed
at customers wanting to save money, and a “prepaid” model,
which is suitable for frequent current account users who conduct a
higher volume of transactions.
But the bank said that it was “not promising zero
fees” for all its services.
Although Zuno bank will focus on the internet customer segment, it
will have one branch each in Bratislava, the country’s capital,
Žilina and Košice, serving as as “touch-and-feel” points for the
brand.
Zuno Bank will launch operations in the Czech Republic and Poland
in 2011 and has already established subsidiaries in both
countries.
