Sberbank, the largest bank in Russia and Eastern Europe, has extended a $202 million line of credit over 10 years to the Renaissance Group.
"Renaissance has a wide geographic presence and a diversified portfolio of projects, including participation in the construction of commercial complexes for MEGA, Hyundai Motor and Ford. Although more than half of the projects are in Russia, the company also operates in the CIS countries and the Middle East. We are confident that our cooperation will be mutually beneficial," Sergei Bessonov, the deputy director of large and medium-sized businesses at Sberbank, said.
The deal was announced at MAPIC, the leading international retail property market, held Nov. 13-15 in Cannes.
"The reliability and competence of our financial partners is an absolute priority," Avni Akvardar, Renaissance Group's president for Russia and the CIS, said. "We were glad to realize another project with the Savings Bank and look forward to a mutually beneficial partnership in the future."
- Bank St. Petersburg hosts event for 10-year anniversary of its IPO
- European Investment Bank, ABN Amro sign agreement to support green shipping options
- AccessBank names new chairman of management board
- European Union environmental leaders aim to cut food waste in half by 2030
- ARMBUSINESSBANK hosts high-school students for lessons about banking
- Decreased inflation will lead to economic recovery, EDB report says
- Rosbank named global outperformer, market outperformer in finance magazine
- National Bank of Ukraine cuts key policy rate in effort to boost the economy
- Photo exhibition of flowers on display at UKRSIBBANK BNP bank
- AtaBank branches offer extended hours for Baku Shopping Festival