OREANDA-NEWS. April 13, 2011. VAB bank issued a UAH 5.5 m loan, maturing in 12 months, to CJSC Skovoroda Agrifirm. Funds are intended for operative needs, including to support the sowing campaign; the loan will be amortised out of the harvest proceeds starting from autumn, reported the press-centre of VAB Bank.

“We plan to use the loan to purchase fuel and spares for machinery, plant protectors, and seeds.  It was important that VAB Bank – our continued partner – lent us a timely hand again,” Mr. Nikolai Kutsenko, chairman of CJSC Skovoroda Agrifirm, said.

“Skovoroda Agrifirm has been our client since 2005 and this company many times confirmed its repute as a reliable borrower.  Furthermore, lending to farms and agricultural companies is a strategic segment of our Bank’s activity.  We have launched a line of credit proposals towards the sowing campaign and have opened the new season already,” Mr. Aleksei Salivon, VAB Bank deputy chairman and director of corporate banking, stressed.

CJSC Skovoroda Agrifirm was established in 2001.  The company grows cereal and industrial crops (over 85% of total sales) and produces milk and meat.

Reference data
VAB Leasing was registered in November 2005. Since October 2006 it is a company in the universal finance VAB Group. VAB Leasing provides services of financial leasing of transport (passenger cars and commercial vehicles), equipment and commercial real estate to corporate and individuals. The chartered fund of VAB Leasing is UAH 35.3 million.