Raiffeisenbank and Rosbank have opened Home Credit and Finance Bank «Christmas facility» credit lines totaling 2.1 billion roubles. The funds will be used during the New Year holidays to meet the increased seasonal demand for the retail loan products of Home Credit and Finance Bank.
The open unsecured credit lines provided to Home Credit and Finance Bank are worth 2.1 billion roubles, and have a 6 month term. The loan rate is tied to the monthly MosPrime rate.
«We are pleased to be working together with our partners on a long-term and mutually beneficial basis. We will make every effort to continue developing this partnership in a sound manner,» said Ivan Svitek, the CEO of HCFB.
«Currently, inter-bank lending is one of the most popular types of debt financing, and Raiffeisenbank is continuing to systematically increase its presence in this market. Each credit line which we open has a customized set of terms and conditions. We have been working with HCFB Bank for more than 10 years and our partnership is very productive and important to us,» said Sergey Monin, the Deputy Chairman of the Board, the Head of the Treasury Directorate, and a board member of Raiffeisenbank.
Home Credit and Finance Bank [Moody’sBa3/NP/D-, S&PB+/B], is one of the leaders on the Russian retail banking market with a 29% market share of consumer loans, and a 6.2% market share of credit cards as of 30 September 2010. The bank has one of the largest client bases in the Russian market. On 30 September 2010, it had 19.3 million customers.
Home Credit Bank offers its customers a wide variety of loan products with differing terms and conditions. The products are presented in more than 39 thousand partner stores in 1200 cities across Russia. The bank’s regional network consists of 82 representative offices, 200 branches and 278 ATMs across Russia as of 30 September 2010.
For more information, visit www.homecredit.ru.
Rosbank is a universal financial institution, and one of the leaders in the Russian banking system. As of 1 October 2010, the shareholders’ equity was 44,278.61 million roubles, while its total assets totaled 721,333.74 million. The majority shareholder of the bank is the French banking group Societe General (72%). In February 2010, the shareholders decided to consolidate Rosbank and the other Russian subsidiaries of the banks of Societe General (BSGV, DeltaCredit, Rusfinance). Rosbank has one of the nation’s largest regional networks, comprising more than 600 branches in 70 Russian regions. Its subsidiaries operate in Belarus and Switzerland. www.rosbank.ru
ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on Q3/2010 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 6th in terms of private deposits and 8th with regard to consumer lending.
Raiffeisen Bank International AG regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. More than 59,000 employees service about 15 million customers through around 3,000 business outlets, the great majority of which are located in CEE. RBI is the only Austrian bank with a presence in both the world’s financial centres and in Asia, the group’s further geographical area of focus. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, which is listed on the Vienna Stock Exchange; the remainder is in free float. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group, and serves as the group head office of the entire RZB Group, including RBI.