Bank News

SME Bank Expands Cooperation with Bank ZENIT

13 Октября 2014

SME Bank (VEB group) has increased the lending limit for Bank ZENIT up to RUB 500 million. The partner bank will provide loans to SMEs at an interest rate of below  13.25% p.a. for purchase of  intangible assets  (patents, licenses, etc..), as well as for construction and modernization of production facilities, purchase and repair of fixed assets.

The two banks have cooperated since spring 2014 when SME Bank opened the first credit line to Bank ZENIT of RUB 200 million for 5 years. As of today the credit line is fully utilized. Thereof 35% were channeled for purchase of equipment and 65% for purchase, modernization and construction of production facilities.

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