The Northern capital branch of Raiffeisenbank has issued LenSpetsSMU a loan of U. S. $20 million. Loan funds have been raised to implement the company-wide goals.
«This is our second deal with the company LenSpetsSMU this year,» said Alexander Konyshkov, the director of the Raiffeisenbank regional center «North-West». «We are focused on long-term collaboration with the LenSpetsSMU Group of companies not only in the corporate, but also in the retail segment.»
The financial director of LenSpetsSMU, Valery Borzilov said: «We are pleased with how our partnership with Raiffeisenbank is progressing. Beginning in 2008, the Bank has opened a total of three lines of credit totaling $50 million. We believe that this is not the limit, and will look for ways to further develop our bilateral relations.»Now the Northern capital branch, which is the largest branch of Raiffeisenbank, has 18 outlets in various districts of St. Petersburg
and operational offices in Kaliningrad, Cherepovets, Petrozavodsk and Syktyvkar. Raiffeisenbank has about 190 ATM’s in St. Petersburg and the Leningrad region, as well as 235 ATM’s in the Northwestern federal district. Currently, Raiffeisenbank has 23 offices in the Northwestern federal district.
The Northern capital branch has more than 1800 corporate clients, and these include companies specializing in communications, construction, printing, food, transport, and publishing.
More information about the bank can be found on its site. The Etalon Group of companies, which includes LenSpetsSMU was founded in 1987. The Group comprises over 60 companies, which are involved in all stages of the investment and construction process: development, design, engineering, site preparation, construction material production, construction, sale and operation of real estate. Since the inception of the Etalon Group of companies more than 120 residential and commercial buildings have been commissioned covering a total area of over 2.8 million square meters, which makes it the leader in terms of housing construction in St. Petersburg over the past 10 years.
According to the IFRS, the Group’s revenues in 2009 increased compared with the previous year by 39.5% and amounted to 18.2 billion roubles. The net profit increased by 1.9 times, and reached 3.6 billion roubles. The EBITDA reached 6.2 billion roubles (+59.4% compared to 2008). The net worth for the year increased 2.1 times from 3.0 billion roubles to 6.4 billion roubles.
Since 2006, Standard & Poor, which is the largest credit rating agency, has repeated given LenSpetsSMU the rating B, with the outlook of «stable». Today this is the highest rating amongst construction companies in Russia and Eastern Europe. ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on H1 2010 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 6th in Russia in terms of private deposits and 9th in consumer lending in Russia based on H1 2010 results.
Raiffeisen International operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The group’s nearly 56,000 employees service more than 14.7 million customers through around 3,000 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB), which owns 72.8 per cent of the common stock. The remainder is in free float, with the shares listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.