Cooperation of Vozrozhdenie Bank and Landesbank Berlin AG

Vozrozhdenie Bank and Landesbank Berlin AG have agreed on financing import contracts of Vozrozhdenie Bank clients. According to the arrangements Landesbank Berlin AG will provide trade finance loans for terms up to 2 years.

In addition a framework agreement providing for extension of long-term loans up to 7 years under the cover of national Export Credit Agencies was signed.

“Loans will be granted to finance our clients’ import contracts with exporters of equipment from different countries,” comments Sergey Popov, Vozrozhdenie’s general manager of Financial Institutions. “The cost of funding will be set for each deal separately but in any case will be less than the cost of local funding.”

“For long-term financing of import contracts with German exporters we also continue to employ HERMES-Covered Credit Facility with AKA Ausfuhrkredit-Gesellschaft mbH,” Mr. Popov pointed out.

Vozrozhdenie Bank also provides its clients with financing for their foreign trade contracts using credit facilities of such major foreign banks as The Bank of New York (USA), Commerzbank AG (Germany), Swedbank (ForeningsSparbanken AB (publ) — Sweden), UBS AG (Switzerland).