Citibank Europe Plc provides Sberbank with USD 300m pre-export financing
November 2, 2011. Moscow – Sberbank of Russia (RTS: SBER, MICEX: SBER03) borrowed USD 300,000,000 pre-export financing from Citibank Europe Plc. The proceeds from the facility were on-lent to Sberbank’s corporate client – OJSC “OHK Uralchem”.
This loan is the biggest one in terms of structure and size, provided to Sberbank by a sole Lender for the purposes of pre-export financing.
Andrey Donskih, Deputy Chairman of the Board, Sberbank, said: “Conclusion of this deal for OJSC “OHK Uralchem” proves that Sberbank enjoys high degree of trust from Citibank – one of our leading partners in trade finance, what is especially important during high market volatility. Development of trade finance allows Sberbank to offer its corporate clients the best possible lending terms in foreign currencies.”
Zdenek Turek, President of ZAO Citibank, said: “Trade finance has wide perspectives in Russia and it significantly contributes to the country’s economic growth. We are happy to partner again with Sberbank on this outstanding deal under strategic partnership between Sberbank and Citibank in various lines of business.”
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Sberbank of Russia is the largest Bank in Russia, Central and Eastern Europe, with approximately 30% of the total assets of the Russian banking system. The Central Bank of the Russian Federation is the founder and the majority shareholder of Sberbank (over 60% of the voting shares), with the rest of the shares dispersed among more than 245,000 individuals and legal entities. The Bank has the most widespread branch network in Russia: 17 Regional Head Offices, over 20,000 branches and banking outlets, as well as subsidiaries in Kazakhstan, Ukraine and Belarus, a branch in India, representative offices in Germany and China.
Sberbank holds the General License No. 1481, issued by the Central Bank of the Russian Federation.
Official website of the bank - www.sberbank.ru
ZAO Citibank, a full subsidiary of Citi in Russia, has been operating since 1993 when it became one of the first banks with foreign capital to enter the Russian market. It was the first out of three current subsidiaries of Citibank in CIS. Citibank has since grown its business to be among the country’s largest banks offering a full range of products and services to corporate and consumer customers. At present, the Bank has over 3,000 employees; its distribution network includes retail branches, 400 ATMs and representative offices in largest cities in Russia, Ukraine, and Kazakhstan. Additional information may be found at www.citibank.ru
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi