ZAO Raiffeisenbank and the «Dyetsky mir» Group have signed agreements on the provision of financing of over 3500 million roubles until June 2012.
«Over the more than three-year history of our cooperation with the Raiffeisen Group, the Bank has shown itself to be an exceptionally reliable partner, both in the period of economic growth and against the backdrop of the unstable economic situation», says Maxim Yentyakov, General Director of OAO «Dyetsky mir — Centre». «The borrowed funds will make it possible to fully refinance all the debts of the „Dyetsky mir“ Group that are due for repayment next year, and to replenish the company’s working capital. The line of credit provides for products that will enable us to effectively finance the company’s trading activities. The transactions that have been concluded are in conformity with the Group’s financial policy, and will enable us to significantly extend the debt-repayment deadlines and reduce currency risks.»
«Commercial lending continues to remain one of the priority lines of the Bank’s activities», comments Oxana Panchenko, a member of ZAO Raiffeisenbank’s Board and the Head of its Directorate for the Servicing and Financing of Corporate Customers. «We realise the increased significance of having a presence in this segment of the banking-services market, and are convinced that we can offer competitive terms. Our relationship with the „Dyetsky mir“ Group is a longstanding and positive one, and we’d like to carry it forward into the future.»
The «Dyetsky mir» Group is the leading retailer of goods for children and teenagers in Russia. The Group currently includes the nationwide chain of «Dyetsky mir» shops, the «Yakimanka Children’s Gallery» luxury centre, and the «S-Toys» company — one of the leading distributors of children’s goods in Russia. The «Dyetsky mir» chain consists of 128 supermarkets and hypermarkets in 68 Russian cities. The total sales area is over 210,000 square metres. According to US GAAP, in 2008 the «Dyetsky mir» Group’s takings amounted to $797 million. The head company of the Group is OAO «Dyetsky mir — Centre», more than 99% of whose shares are held by OAO «Sistyema» JFC.
OAO «Sistyema» JFC is the largest public diversified finance corporation in Russia and the CIS, servicing over 100 million consumers in sectors such as telecommunications, high tech, the fuel-and-power complex and petrochemicals, radio and space technology, banking, real estate, retail trading, the mass media, tourism, and medical services. Set up in 1993, the company registered takings of $4200 million in the 2nd quarter of 2009, and its total assets as at 30 June 2009 amounted to $33,800 million. OAO «Sistyema» JFC’s shares are listed under the symbol «SSA» on the London Stock Exchange, under the symbol «AFKS» on the Russian Trading System Stock Exchange and the Moscow Interbank Foreign-Currency Exchange, and under the symbol «SIST» on the Moscow Stock Exchange. OAO «Sistyema» JFC’s website is: www.sistema.ru.
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 3Q 2009 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 5th in Russia in terms of private deposits and 8th in consumer lending in Russia based on 3Q 2009 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 59,000 employees service around 15 million customers via more than 3,100 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 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.