The Black Sea Trade and Development Bank (BSTDB) has agreed to provide Center-invest Bank with a 3-year RUB1bn loan to finance SMEs.
The funds will be used to allow Center-invest Bank customers to expand production, modernise agricultural equipment and upgrade industrial premises.
"Thanks to our partnership with BSTDB, as well as finance for projects in southern Russia, we benefit from best international practice in banking and banking technologies," said Lidia Simonova, deputy chairman of Center-invest Bank’s Executive Board. "We are pleased to offer our customers personalised loan solutions at low interest rates. Center-invest Bank and BSTDB have worked together since 2007. The signing of this new loan agreement further strengthens and expands the relationship between our two organisations. The trust shown by Center-invest Bank’s international partners confirms that we have chosen the correct development strategy."
"BSTDB is actively developing the much-needed local currency financing in member countries, including Russia. We are happy to provide our first facility in Rubles to the long-term partner Center-Invest Bank, which is based and operating in our priority Russian southern regions on the Black Sea shores. This new facility will mitigate foreign exchange risks for Center-Invest Bank and help increase funding for local businesses in the local currency", said BSTDB Delikanli.
Center-invest Bank is a market leader for energy efficiency finance, SME lending, and loans to introduce new technologies in the agricultural sector. At FYE 2016, among the Best Russian Banks for SMEs, Center-invest Bank ranked 7th for the value of its sole trader loan portfolio, and 8th for the value of its SME loan portfolio (ranking compiled by RA Expert ratings agency).
Over 56,000 SMEs and sole traders in southern Russia choose Center-invest Bank thanks to its record low interest rates, personalised loan programmes, preferential terms for payments and cash management, reliability, and high-quality customer service.
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Center-invest Bank was founded in 1992. Its shareholders include the European Bank for Reconstruction and Development (25.25%), the GermanInvestment and Development Company (DEG) (20.65%), Dr Vasily Vysokov and Tatiana Vysokova (24.43%) and Firebird Investment Fund (9.11%). The bank has 132 branches located in the Rostov and Volgograd regions, Krasnodar Krai, Stavropol Krai, and Nizhny Novgorod, and also a representative office in Moscow. At FYE 2016 the bank had assets of RUB95.9bn. Retail customer accounts comprised 63.3% of the bank’s liabilities. The bank is rated Ba3 by Moody’s.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution which supports development and cooperation in the Black Sea Region.