OREANDA-NEWS. March 21, 2011. The first loans using RBD and Vozrozhdenie Bank resources were extended under the SME Lending Support Program, reported the press-centre of RBD.

According to the cooperation agreement in December 2010 RBD extended a loan to Vozrozhdenie Bank for SME lending worth RUR 3 billion with a 5-years’ maturity. The funds are allocated within Co-financing credit product and according to this product Vozrozhdenie Bank provides loans to SMEs using both the funds of RBD and its own funds.

“SME support is a key priority to RBD. At that the Bank is interested in the Program’s outspread in the entire Russia. RBD’s cooperation with Vozrozhdenie Bank demonstrates the program’s implementation since the bank’s SME support policy and a wide branch network facilitate efficient use of government resources”, pointed out Member of the Board – Deputy Chairman of the Board of RBD Olesia Teploukhova.

“SMEs historically represent key customer segment for Vozrozhdenie Bank and SME lending is our priority. Many years the bank has been occupying leading positions in the country in respect of SME lending, the share of SME loans is over a half of the corporate loan portfolio. The Bank actively participates in the state SME lending support programs in the regions of its presence financing enterprises in various sectors of the economy. We provide lending to food industry, agriculture, transport and communications, construction and production of building materials, textile and garment manufacture, wholesale and retail trading, wood working and other types of production activities”, commented Deputy Chairman of the Board of Vozrozhdenie Bank Lyudmila Goncharova.

Financing using RBD and Vozrozhdenie Bank funds is received by SMEs in 18 regions of Vozrozhdenie Bank presence. Among them are the Moscow Oblast, the South of Russia including the Stavropol Kray, the Krasnodar Kray, the Rostov Oblast, the Republic of Dagestan as well as St.Petersburg, the Volgograd Oblast, the Far East, in particular the Khabarovsk Kray, the Magadan Oblast and others.

Russian Bank for Development OJSC (RBD) was established in 1999. It is 100% owned by the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”. RBD’s international credit ratings: Standard & Poor's (BBB) and Moody's Investors Service (Baa2). www.rosbr.ru

Vozrozhdenie Bank according to Bank of Russia is ranked among TOP-30 major Russian banks. The nationwide network includes 172 locations and over 700 ATMs. The bank provides 60,000 corporate and 1 500,000 individual clients with a range of services, from savings accounts, payment handling and payroll management to mortgages, bank cards and business and consumer loans. www.vbank.ru