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News

03.12.2014

EXIAR insures VTB export credit for shipments of metro train carriages to Belarus

As part of a programme to support Russia's exports, VTB Bank issued a long-term loan insured by EXIAR. The loan will be used to finance shipments of metro train carriages to Belarus as part of an export contract with Metrovagonmash – one of the largest transport engineering companies in Russia.

In 2013, VTB Bank and EXIAR signed a strategic cooperation agreement to facilitate the provision of EXIAR-insured export finance to leading Russian suppliers of high-tech products and the promotion of foreign project financing in partnership with Russian companies abroad. EXIAR's insurance coverage has enabled the bank to increase the amount and duration of financing, thereby helping its clients implement manufacturing and infrastructure export projects in the CIS and further afield.

The resulting joint product means that the bank can offer corporate clients and financial institutions lending services to finance Russian exports. The bank is also implementing a confirmed letter of credit and financing programme for exports, again with insurance coverage from EXIAR. This will allow the benefits of the Agency's insurance to be applied to letter of credit payment schemes for contracts.

This programme will help further boost cooperation between the bank and EXIAR, resulting in tangible improvements to the support available to Russian 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 charter capital is RUB 30 billion. Eximbank of Russia is a subsidiary of the agency.

VTB Bank, together with its subsidiary banks and financial organisations (VTB Group) is a leading financial group in Russia, and offers a wide range of services throughout the country, as well as in the CIS, Western Europe, North America, Asia and Africa.

In Russia the group operates via its parent bank (VTB Bank) and subsidiaries, the largest of which are VTB24, the Bank of Moscow and Leto Bank. The group's subsidiary financial organisations provide services on the securities, insurance, leasing and factoring markets, amongst others.

Outside Russia the group operates through 14 subsidiary banks (located in Austria, Germany, France, the UK, Cyprus, Serbia, Armenia, Belarus, Kazakhstan, Azerbaijan, Ukraine [two banks], Georgia and Angola), two representative offices (located in Italy and China), two branches of VTB (in China and India), and two branches of VTB Capital (in Singapore and Dubai). The group's investment banking division acts as a broker and dealer in the US, conducts securities trading and offers financial consultancy services in Hong Kong, and also has a presence in Bulgaria.

As at 30 September 2014, VTB Group is the second largest financial group in Russia in terms of assets (RUB 10.1352 trillion) and customer deposits (RUB 5.3214 trillion). The Russian government is the majority shareholder of VTB, owning 60.9% of the group's joint stock capital via the Russian Federal Agency for State Property Management.

External communications EXIAR