August 15, 2016, Moscow - Sberbank continues to actively work on financing SME exporters using insurance from the Russian Agency for Export Credit and Investment Insurance (EXIAR), which is part of the Russian Export Centre.

Recent deals include projects of the Uralsky and Yugo-Zapadny Banks. The Uralsky Bank entered into a six-month loan agreement with small enterprise Tekhmasheksport LLC for RUB 17.5 mln. The Yugo-Zapadny Bank opened a two-year RUB 120 mln revolving credit line for a medium-sized enterprise that is involved in wholesale export of grain.

Deals are signed under a cooperation agreement with EXIAR, thanks to which SMEs have the opportunity to attract financing on favourable terms. Loans can be provided for up to 24 months and can amount to up to 80% of the export contract. EXIAR insurance coverage is provided for up to 90% of the loan amount plus interest.

"Together with EXIAR it is our goal to make financing more accessible for exporters from the small and medium-sized business segment and thereby boost their competitiveness on international commodity and capital goods markets," commented Andrei Ivanov, Head of the Trade Finance and Correspondence Relations Division at Sberbank CIB.

"The number of deals with small and medium-sized enterprises signed with EXIAR coverage is growing, the state is paying special attention to supporting exports, and we see significant potential for further development in this area," commented Andrey Sharov, Vice President and Director of Sberbank's Small Business Development Department.


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Sberbank
Alexander Baziyan
Press Office
Tel. +7 (495) 957 5721
media@sberbank.ru


Sberbank is Russia's largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

The Bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.


Export Agency of Russia (EXIAR) was founded in October 2011 as an open joint-stock company. The main goal of the agency is to support high-tech exports by insuring export credits against credit and political risks and insuring Russian foreign investments against political risks. Russian Export Centre JSC is the sole shareholder of EXIAR. The Agency has an authorised capital of 43.5 bln roubles. State Specialised Russian Export-import Bank (Roseximbank) is a subsidiary of EXIAR.

Sberbank published this content on 15 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 August 2016 14:30:02 UTC.

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