EXIAR insures Transkapitalbank's financing of Novoagrotrans deliveries
The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Transkapitalbank have agreed to a working capital financing insurance policy.
As part of the agreement, EXIAR will insure Transkapitalbank’s loan to Novoargotrans Ltd., an exporter shipping nutrients, such as sulfur and chickpeas to Singapore, Great Britain, Switzerland, and other countries.
Working capital financing insurance is designed to increase access to financing for Russian small- and medium-sized exporters and entails an expedited review procedure by EXIAR. Before the insurance policy was agreed to, EXIAR and Transkapitalbank signed an Agreement to develop and implement a lending program for export-oriented small- and medium-sized enterprises, as well as larger exporters.
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.
Novoagrotrans Ltd. has for more than 5 years worked in the wholesale trade of crops, fertilizer, and nutrients, such as sulfur. The company primarily produces for foreign markets. Novoagrotrans Ltd. operates its own terminal, which is capable of sending up to 10,000 tons of grain and fertilizer freight. This freight is shipped by ground transportation using reliable transport companies.
External Communications EXIAR