Raiffeisen and Vontobel have agreed to continue collaboration in certain areas even after their current cooperation agreement terminates in June 2017.
The new agreement will include collaboration in the areas of investment products and securities settlement, and will run through to the end of 2020 at least.
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The collaboration in specific areas would still be beneficial for both partners, the two banks said in a joint statement.
Additionally, the existing cooperation agreement, which covers the period through to June 2017, will continue to apply until it expires.
Raiffeisen CEO of Switzerland Patrik Gisel said: "Continuing to work together in certain specific areas is in our clients’ interests, and creates a platform for new, business-oriented products, models and processes for both companies."
Vontobel CEO Zeno Staub said: "We are pleased that Vontobel will remain a key product and ser-vice partner for Raiffeisen beyond 2017. This partnership will contribute to ensuring a high-quality range of products and services for Raiffeisen’s clients in the future."
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