Bank News

RBD and Bank Vozrozhdenie Join Efforts for SME Lending Support

23 Декабря 2010
RBD and Bank Vozrozhdenie signed 5-year loan facility agreement of RUR 3 bln for the purposes of lending to SMEs.

The agreement based on the “Co-financing” product provides equal amount of financing to SMEs from RBD and Bank Vozrozhdenie.

“Cooperation with leading Russian banks, such as Bank Vozrozhdenie, serves the general purpose of RBD – delivering funding to as many borrowers as possible. Given great track record of working with SMEs and a wide distribution network, Bank Vozrozhdenie will make significant contribution to our Program”,  commented Olesia Teploukhova, Deputy Chairman of the Management Board of RBD.

“Historically SMEs are the key clientele of Bank Vozrozhdenie . Lending under the agreement with RBD fully complies with the business strategy of the bank, that actively participates in different programs aimed to SMEs support”,  said Lyudmila Goncharova, Deputy Chairman of the Management Board of Bank Vozrozhdenie. As of October 1, 2010 SMEs loan portfolio of Bank Vozrozhdenie amounted to almost RUR 50 bln or nearly 60% of the corporate loan portfolio.

Pursuant to the agreement the allocated by RBD resources will be channeled to enterprises in the Nizhny Novgorod, Rostov, Kaliningrad, Magadan, Tula, Yaroslavl, Volgograd and Moscow Oblasts as well the Khabarovsk, Krasnodar, Stavropol and Altay Krays and the Republics of Dagestan and Karelia – SMEs in all regions of Bank Vozrozhdenie presence. Strategic region for the bank is the Moscow Oblast, thus practically 30% of the allocated funds will be channeled to the Moscow Oblast’s SMEs.

The funds provided by RBD will be channeled to SMEs operating in agriculture, food industry, textile and garment manufacture, distributive industries; electrical energy, gas and water distribution, fuel industry, woodworking and other industries.

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