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

27.11.2013

EXIAR insures supplies of AvtoVAZ assembly set components to Ukraine

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Novikombank (Russia) have concluded a confirmed letter of credit insurance contract for payment of shipments of assembly set components for Bogdan cargo vehicles and passenger cars.

Under the agreement, EXIAR has provided confirmed letter of credit insurance worth EUR 3 million, issued by PrivatBank (Ukraine) on behalf of AvtoVAZ (Russia) under the authority of Bogdan Motors (Ukraine). Novikombank was the confirming and financing bank (Russia). Financing has been provided for 3 years.

The terms of the transaction specify that EXIAR will insure AVIAHELP EXPORT deliveries of AvtoVAZ assembly set components to Bogdan Vehicles in Ukraine. The Agency provides insurance services to cover against commercial and political risks.

The insurance product is intended to protect a Russian bank confirming letters of credit from the risk of non-payment due to commercial and/or political reasons from the issuing bank under a letter of credit.

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.

Novikombank was established in 1993. Today it is a stable and fast-growing financial institute, providing clients with a full range of banking services. Novikombank is the base bank of Rostec, and focuses on providing financing to Russian industrial companies, including those operating in high-tech industries, aviation, and the car industry. As at 1 October 2013, the bank's capital was RUB 20.4 billion, with RUB 152.1 billion in assets. Novikombank is among the top 40 largest Russian banks, is a base bank in the CIS and Customs Union, and is successfully developing the 'Bank for Banks' programme.

PrivatBank was established in 1992, and is the leading commercial bank in Ukraine. As at 1 October 2013, the bank's capital was UAH 20.109 billion, with UAH 202.551 billion in assets, and net profit of UAH 1.732 billion. In addition, as at the same date, 23.5% of the total bank deposits made by private customers in the country were made at PrivatBank, making it the most popular retail Bank in Ukraine.

AvtoVAZ Group is the largest automobile manufacturer in Russia, and has a presence in 46 countries worldwide. In addition, the group includes approximately 270 subsidiaries operating in over 17 states. The companies in the group specialise in a range of industries, including telecommunications, energy, and construction, and also provide financial and insurance services. In 2012, the group's turnover was RUB 190.1 billion, with net profit of RUB 29.2 billion.

Bogdan Motors manufactures VAZ and Hyundai passenger cars, as well as vehicles under its own brand name and a wide range of buses, coaches and trolleybuses. The company is part of Bogdan Corporation, which was established in February 2005 to implement major investment projects aimed at developing Ukraine's manufacturing capacity for all types of transport.


External Communications
EXIAR