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News

26.08.2015

EXIAR insures Transkapitalbank’s financing of KAMAZ auto chassis supplies to Uzbekistan

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Transkapitalbank have agreed to insurance of a confirmed letter of credit aimed to finance shipments of KAMAZ-made automobile chassis to Uzbekistan.

As part of the agreement, EXIAR will cover the confirmed letter of credit issued by AKB Invest Finance Bank (InFinBank) to KAMAZ on behalf of of the Uzbek importer. Transkapitalbank is acting as the confirming and financing bank for the letter of credit.

EXIAR’s confirmed letter of credit insurance is designed to cover Russian banks confirmating to a letter of credit against loss caused by non-payment by the issuing bank for commercial or political reasons.

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 authorized capital is RUB 30 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.

Transkapitalbank is a full-service nationwide 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 and ATMs, 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.

InFinBank was founded in 2007 and has worked in the interbank market for now over 6 years, securing an enduring position as a reliable financial partner. From its start, the bank offers comprehensive services to large corporate clients, small- and medium-enterprises, and individual. The bank works to finance corporate clients, small- and medium-sized businesses, and to develop online banking services by introducing modern information systems. The bank is also expanding regionally; it is among the top 20 largest banks in Uzbekistan.

External Communications EXIAR