EXIAR insures Transkapitalbank's financing of GAZ Group commercial automobile deliveries to Belarus
The Russian Agency for Export Credit and Investment Insurance (EXIAR) has insured financing for exports of the GAZ Group's production to Belarus.
The buyer credit insurance agreement was concluded by EXIAR and Transkapitalbank. According to the document, EXIAR will insure Transkapitalbank's loan for RUB 33.5 million to Belinvestbank (Belarus) to pay for the delivery of GAZ-made automobiles to Belarus.
EXIAR's Buyer Credit Insurance is provided to banks (international or Russian) to cover a loan to an overseas buyer or borrower to finance the purchase of goods and/or services from a Russian exporter.
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.
Belinvestbank is one of the largest state banks in Belarus. It ranks fourth in terms of assets and equity, as well as the volume of its credit portfolio. The bank engages in the primary activities of the state's monetary and credit policy, increasing the efficiency of working with clients – individuals, small- and medium-sized business owners, as well as large corporations. At the beginning of 2015, the bank’s assets totaled $2.6 billion while its equity amounted to $305.8 million. The bank’s net profit according to IFRS reporting standards for 2014 totaled $11.7 million. Belinvestbank has an extensive network within Belarus, amounting to nearly 200 branches and divisions. The bank also has an office in Poland.
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