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Tuesday, November 21, 2017

Sberbank, European Investment bank finish overseas subsidiaries agreement

Sberbank, the largest bank in Russia and Eastern Europe, and the European Investment Bank, recently concluded a framework deed of guarantee in Moscow on Friday.

"The agreement will not only contribute to the increase of business volume between Sberbank and EIB, but will also expand the geography of our relationship - we have a pipeline of joint projects in Ukraine, Kazakhstan, Slovenia, Croatia, Serbia, Bosnia and Herzegovina," Deputy Chairman of the Board of Sberbank Andrey Donskih said.

Donskih and Vice President of the European Investment Bank Wilhelm Molterer signed the agreement.

"I am delighted to sign this framework deed of guarantee with Sberbank today. We highly value the cooperation with Sberbank, which in particular enhances access to financing for SMEs and mid-cap companies with improved conditions," Molterer said.

EIB is the main Sberbank creditor in Europe and Turkey, actively supporting municipal program, small and medium sized businesses, energy efficiency, and securitization.

Sberbank has more than 18,000 branches in Russia.