Ваш браузер устарел!

Обновите ваш браузер для правильного отображения этого сайта. Обновить мой браузер

Contact center phone number
Site search
Site search
Search in the exporter navigator
Site search
Site search
Search in the exporter navigator

News

16.07.2013

EXIAR covers risks on supplies of Russian energy equipment to Ukraine

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and NOVIKOMBANK have concluded a confirmed letter of credit insurance agreement for the purposes of paying for a delivery of capacitor sections for steam turbines to Ukraine.

Under the terms of the transaction, EXIAR provided confirmed letter of credit insurance with post-financing issued by PrivatBank under the authority of Dneprazot (Ukraine). NOVIKOMBANK was the confirming and financing bank. Financing has been provided by NOVIKOMBANK for 3 years. The manufacturer and exporter of capacitors in this transaction is ENTECHMACH (St Petersburg).

This is the first time that such a deal has been concluded in Russia, with EXIAR providing confirmed letter of credit insurance with post-financing for the performance of obligations outlined in the export contract concluded with a Russian exporter. This insurance product is intended to protect a Russian bank from the risk of non-payment from the issuing bank under a letter of credit.

OJSC Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October, 2011. EXIAR’s mission consists in Russian high-tech exports support through insurance of export credits against commercial and political risks, as well as Russian investments abroad against political risks. EXIAR’s sole shareholder is Vnesheconombank. The Agency’s charter capital makes RUR 30 billion (ca USD 1 billion).

Novikombank was established in 1993. Today it is a stable and fast-growing financial institute, providing clients with a full range of banking services. The bank focuses on providing financing to Russian industrial companies, including those operating in the defence industry, the car industry, and the high-tech industry. As at 1 July 2013, the bank's capital was RUB 16.2 billion, with RUB 144 billion in assets. Novikombank is a base bank in the CIS and Customs Union, and is successfully developing the 'Bank for Banks' programme. EXIAR's and Novikombank's services for supplying energy equipment to Ukraine is currently one of Novikombank's major services among several offered to banks in the CIS as part of this project.

PrivatBank is the largest Ukrainian Bank, and the leading retail bank in the country. Today, the bank has 18.6 million private accounts, 240,000 corporate clients, and 619,000 business clients. As at 1 July 2013, the banks assets total UAH 190.9 billion, with a capital of UAH 19.7 billion. It recorded a net profit for H1 2013 of UAH 1.382 billion. According to the Top 1000 World Banks rating, compiled by The Banker, PrivatBank is one of the 10 largest banks in Central and Eastern Europe.

External Communications EXIAR