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17.02.2014

EXIAR and TransCapitalBank sign agreement

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and TransCapitalBank have signed an agreement to develop and implement a joint programme to lend to export-oriented SMEs, with insurance support provided by EXIAR. The document was signed by Chair of the TransCapitalBank Management Board Olga Gryadovaya and EXIAR CEO Peter Fradkov.

The programme will establish special lending terms for SMEs to enable them to finance their export operations, whereby EXIAR will provide insurance coverage for the bank against the risk of a loan default by the borrowing SME.

According to Fradkov, "focused cooperation in developing and implementing the programme will enable financing to be offered on highly attractive terms to export-oriented SMEs, which will enable them to increase exports while benefitting from EXIAR's insurance coverage."

Evgeny Ivanovsky, Deputy Chairman of the Management Board at TransCapitalBank, commented, "We are delighted that TransCapitalBank is one of the first banks to join EXIAR's programme to support SME exporters in Russia. Today, companies in this sector are capable of making a tangible contribution to Russian economic growth and diversification in the short term. However, these companies are often faced with greater difficulties than their larger counterparts when it comes to entering the export market. This is partly due to issues related to obtaining financing – and insurance for it – both for potential exporters and for lending banks. Giving banks access to state support through EXIAR will undoubtedly eliminate a great number of these problems, and will have a positive impact on Russian exports in the SME segment.

"Indeed, this segment is a priority for TransCapitalBank. We seek to offer our clients the best-suited products and flexible terms by constantly extending our range of services to meet the real needs of entrepreneurs. We strongly believe that insurance for export transactions by a state organisation will provide a timely and welcome solution for many of our clients, and will help them take their companies to an entirely new level."

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. EXIAR’s mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks.Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 30 billion.

TransCapitalBank is a universal commercial bank offering a wide range of banking services to legal entities and individuals in 20 regions of the Russian Federation. Its core business consists of financing and assisting corporate clients, providing support to small businesses and micro-enterprises, lending to and assisting private clients, and providing factoring and leasing services. The bank is a leader among private commercial banks in Russia in terms of financing client export and import transactions (trade finance). It offers corporate clients a large number of different products, including pre-export financing. TransCapitalBank is a mainstay in Russia's top 50 banks in terms of net worth and assets.

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