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«Aareal Bank AG opened a representative office in Moscow on 1 July 2008. Following official approval the Central Bank of the Russian Federation (CBR), the office – located in the heart of Russia’s capital city – is now authorised to commence business operations. The opening of the new representative office is an important step within the framework of Aareal Bank’s plans to achieve broad global diversification and to further expand its credit portfolio exposure to Central and Eastern Europe (CEE).
The business activities of Aareal Bank’s Polish subsidiary – Aareal Financial Service Polska Sp. z o.o., Warsaw – were transferred to Aareal Bank's newly-established Warsaw branch, also with effect from
1 July 2008. The transfer has been approved by the Polish Financial Supervisory Authority (PFSA). The new branch office was established in order to concentrate Aareal Bank’s businesses in the CEE region, and
to strengthen the good position that the bank already commands in that market. Accordingly, sales activities in Poland, the Czech Republic, the Republic of Slovakia, the Russian Federation, and Romania will henceforth be concentrated at the Warsaw branch. Aareal Bank has had a presence in the CEE region since 1998, and in Russia since 2003. It is one of the leading property finance houses in the CEE region. The bank was honoured as “Best Property Bank in Central and Eastern Europe” within the scope of the CEE Real Estate Quality Award in 2004 and 2006, in recognition of its success. Last year, roughly 8.5 percent of Aareal Bank’s new business was generated in this region» (CS della Banca)
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