foir print


First loan in 20<sup>th</sup> anniversary year

The European Bank for Reconstruction and Development (EBRD) has approved two three-year loans for Center-invest Bank, for the sums of 750 million rubles and 375 million rubles. The two parties signed the loan agreement on 12 January 2012. The funds will be used for on-lending to SMEs requiring finance for post-crisis business development projects, and also for the introduction of energy efficiency technologies to modernize production facilities. This will contribute to the sustainable development of the economy of southern Russia.

“We welcome this new initiative from our long-standing partner, Center-invest Bank,” said George Orlov, EBRD Director for Financial Institutions in Russia. “We have successfully implemented many projects with Center-invest Bank and we are continuing to find new avenues for cooperation. We hope that the loan will be beneficial for the bank’s customers and that it will have a powerful “demonstration effect” in terms of the application of energy saving technologies in southern Russia.”

With a reassuring Ba3 rating from Moody’s, Center-invest Bank was able to obtain these long-term funds on attractive terms.

“This is the first international loan in 2012, the year in which Center-invest Bank celebrates its 20th anniversary,” said Olga Vysokova, Deputy Chairman of Center-invest Bank’s Executive Board. “We have worked very hard to obtain this credit line from the EBRD. It is unique for the Russian financial market, as it is a long-term ruble credit line, and it is dual-purpose: for lending to SMEs (RUR750m) and for the introduction of energy efficiency technologies (RUR375m). We are sure that our customers will appreciate our efforts.”

The EBRD credit lines will allow 120-150 companies in southern Russia, customers of Center-invest Bank, to modernize their equipment and technology. This will take the quality of their goods to a new (European) level and significantly reduce the cost of production.

In the Rostov region Center-invest Bank accounts for more than 40% of all long-term loans to SMEs for investment purposes. The bank is successfully participating in the programmes run by the Loan Guarantee Funds of the Rostov and Volgograd regions, Krasnodar Krai and Stavropol Krai.

Established in 1992 by southern Russia’s first privatized enterprises, Center-invest Bank has become known as a “reform laboratory” in the region and it has established successful partnerships with international financial institutions. It is southern Russia’s leading bank and the only one with a Ba3 rating from Moody’s.