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News

29.07.2015

EXIAR and Transkapitalbank to support exports of mining parts

The Russian Agency for Export Credit and Investment Insurance (EXIAR) has provided insurance coverage to the Russian company Promsynthez JSC for its regular export of mining parts to the Republic of Kazakhstan.

The comprehensive export credit insurance agreement was concluded by EXIAR and the Russian exporter Promsynthez. Transkapitalbank was designated the beneficiary to the agreement as the bank is providing 15 million rubles to Promsynthez in order to pursue export contracts. Promsynthez's annual turnover with its counteragent in Kazakhstan – on whom EXIAR has placed a limit – could reach more than 70 million rules. EXIAR will cover the risk of Buyer nonpayment for the Russian exporter.

Comprehensive export credit insurance is designed to protect Russian companies from the risk of nonpayment by foreign buyers due to commercial or political reasons. The policy would cover delivery of goods that are made on credit terms (for a tenor no more than 360 days) to regular buyers abroad

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 31 billion. Since November 2014 Eximbank of Russia, a Russian specialized government–owned export–import bank, has been a subsidiary of Russian Agency for Export Credit and Investment Insurance (EXIAR).

Transkapitalbank is a full-service bank that offers a wide range of banking services to legal entities and individuals in 20 regions around Russia. Transkapitalbank is one of the 50 largest banks in Russia in terms of assets and shareholders' equity. The bank currently possesses over RUB 165 billion worth of assets and more than RUB 27.5 billion in equity. The bank ranked tenth on the list of the 100 most reliable Russian commercial bank as of January 1, 2015, published in the weekly business magazine Profile. The bank’s primary shareholders are: top management (55%); the European Bank for Reconstruction and Development (28.59%); German investment company DEG (9.14%); and, the International Finance Corporation (7.7%). The bank has an international credit rating of B1 by Moody's Investors Service. The bank’s primary activities center on financing large corporate clients, small- and medium-sized businesses, home mortgages, as well as checking and savings services for individuals and legal entities. One of its new focuses is the formation of the forum "A Bank for Banks" for financial institutions in the Eurasian Economic Union and the CIS. The program offers a comprehensive approach to creating a line of products that includes checking, treasury operations, trade finance instruments, and the ability to organize syndicated loans. Financing Russian exports under EXIAR’s insurance coverage is one of the bank’s most popular products.

Promsynthez JSC was created in February 1997 as part of Polymer OJSC as an explosives manufacturing company and is the successor to Samara Sergiev Explosives Plant, which was established in 1911 by the Military Council of the Russian empires Military Ministry (Decree No. 1 of September 14, 1911). In 1998, production was launched of nitrobenzyl – the basis for creating aniline, paints and polymer. Into thousand three, the company mastered the production of packaged emulsive explosives. The company is now one of the leading manufacturers of industrial explosives in Russia and the CIS and is the largest supplier of nitrobenzyl in Russia.

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