Registering a steady development of activities in its different trades, Banque Raiffeisen, one of the top three most popular banks in Luxembourg, also continues to grow in terms of client satisfaction.
In 2021, Banque Raiffeisen recorded a continuous and sustained development of activities in its three business lines: savings, credit, and investments. Against this backdrop, the Bank notes that its clients are increasingly shifting to the digital component for basic transactions but remain in demand for face-to-face advisory services. In order to meet their expectations better, Raiffeisen continues to optimise its branch network and to develop its digital services and its online branch as part of a “phygital” approach.
A network close to clients
By the end of 2021, Banque Raiffeisen provided its clients with a network of 34 branches, 51 ATMs and 50 additional ATMs in partnership with Post Luxembourg. Focusing on proximity and easy access, the branches - 86% of which are accessible to people with reduced mobility - provide advice in line with the expectations and needs of professional or private customers.
Banque Raiffeisen continues to optimise its network, - its most important sales channel - throughout the country. These adjustments are made in response to changes in client behaviour and the most attractive business areas spread across the regions. In this context, the Bank has closed a few branches, but is above all involved in renovating some (Niederanven, Redange, Weiswampach) and building new sales outlets that will open in 2022 and 2023 (Bascharage, Differdange and Esch-Belval). By 2023, this reorganisation will result in a network of some thirty branches covering the whole of Luxembourg and bringing together professional skills.
By expanding its organisational structure, the Bank’s objective is to remain close to its clients and to serve them even better while remaining true to its DNA as a cooperative bank. Hence the emphasis is also on professional clients, who benefit from the establishment of two “Business Competence Centres” which, since the start of the 2021 academic year, have been in permanent contact with the Business Department and local branches as regards taking charge, either wholly or partially, of professional clients, especially in the craft sector and Luxembourg SMEs.
A cooperative bank that belongs to its members
As the first cooperative bank in Luxembourg, Banque Raiffeisen belongs to its members. Raiffeisen encourages its clients, who are responsible consumers, to become members. Membership is conditional on subscription to a share at a unit price of EUR 25.00. At the end of 2021, Banque Raiffeisen counted 43,298 members, an increase of 7.0% in one year. They received OPERA benefits to the value of EUR 1,247,077, an increase of 5.4% compared to the previous year.
A record year for “Investment” activity
Stock market performances, the low interest rate environment, and the success of the range of ESG products and services led to a record year for Banque Raiffeisen’s investment business, both in terms of the sale of service packages and in terms of growth in security assets and revenues.
Assets under discretionary management grew by an exceptional 72.9%, security assets increased by 28.2%, investment income rose by 36.2% and the number of contracts with an investment formula jumped by 26.6%.
A constantly optimised digital offer
To better satisfy its clients and members, Banque Raiffeisen has also continued its efforts to digitalise its processes and services. In this context, new features have been added to the R-Net application. Authentication with Touch ID or Face ID is faster and more convenient. It now allows customers to log in using biometrics without having to enter their LuxTrust credentials to access their accounts. In addition, since November 2021, clients have also been able to perform certain operations related to the management of their credit cards online: initial activation of the card, PIN reminder, temporary blocking of the card and management of authorised payment areas. Finally, Banque Raiffeisen has also introduced the Payconiq mobile payment application, which is now used by more than 15,000 clients and meets the Bank’s very high security and encryption standards.
NB: The figures as reported in this press release are still subject to approval by the ordinary General Assembly.
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