EXIAR insures loan to Russian exporter for agricultural shipments to Turkey
TransKapitalBank and the Russian Agency for Export Credit and Investment Insurance (EXIAR) have agreed to another working capital financing insurance policy.
According to the policy, EXIAR has insured a loan issued by TransKapitalBank’s Voronezh branch to Russian exporter Metelitsa Trading House, Ltd., which will ship beet molasses to Turkey.
Since the beginning of 2015, TransKapitalBank has financed small- and medium-sized businesses that ship food and mining equipment to CIS countries, as well as granulated sulfur and beet molasses to other countries. The total EXIAR-insured financial support for small businesses amounts to over RUB 120 million.
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian hi-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 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of 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 175 billion worth of assets and more than RUB 28 billion in equity. The bank ranked fourth on the list of the 100 most reliable Russian commercial bank as of July 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 for Russian exports, with insurance coverage provided by EXIAR, is one of the bank’s most popular products.
Metelitsa Trading House, Ltd. was established in February 2002. Since the company’s conception, it has increased its production volumes with each passing year. The company has grown from supplying beet molasses from sugar plants to local (Russian) consumers by ground transportation (such as tanker trucks and the railroad), to working abroad. The company’s clients include a great deal of well-known companies from Germany, Italy, Ukraine, Kazakhstan, Great Britain, Finland, and Spain. Over the course of 2006-2007, 30 export contracts were filled. Exports accounted for 45% of the company’s revenue in 2007. In that same year, Metelitsa Trading House started delivering beet molasses to ports in Italy, Spain, and Turkey on ships with capacity to carry 1,500-15,000 tons, departing from the Yeisk Seaport (with both CIF and FOB agreement models), Rostov-on-Don, and the Taman Seaport.
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