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14.09.06

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In August 2006 in St. Petersburg OKO Bank plc (Finland) and OOORaiffeisen Leasing (Russia) signed the Cooperation Agreement. Under the contract both parties are aimed at finding most favorable solutions of leasing financing for Finnish related companies in Russia and providing Russian companies to equire industrial equipment made byFinnish producers. Benefits of this program for the clients are as follows: reliability of the financing partner, competitive cost of financing, quality of services provided.

On the level of banking groups cooperation of two companies was established from the very entrance to the Russian market. And its quite obvious that we made partners in leasing business as well. We are sure that OOO Raiffeisen Leasing and OKO Bank cooperation program isvery attractive for both Russian industrial companies and Finnish producers and corporations, - said Galina Kostyleva, Managing Director of OOO Raiffeisen Leasing.

The number of Finnish companies opening their divisions in Russia andespecially in St. Petersburg is growing. The activity of equipment andmachinery producers from Finland is increasing. Currently, about 450Finnish originated firms have been established and are active innorthwestern Russia. These companies are keenly interested in having the access for convenient and good-priced financial services.

The alliance with OOORaiffeisen Leasing in Russia, one of the leading leasing companies on the Russian market, will be able to provide clients of OKO bank with financial leasing services of high quality.

OKO Bank plc, founded in 1902, is universal commercial bank and thecentral bank of the OP Bank Group consisting of 236 independent localcooperative banks in Finland. As to the size of assets, it is roughlycomparable to Russian Vneshtorgbank. It already has relations withRaiffeisen Group through the Unicash system.

OOORaiffeisen Leasing was established by ZAO Raiffeisenbank Austria (bank with 100% foreign capital) in 2000. The branch in St. Petersburg exists since 2001. At the present time the company with its main seat in Moscow has 5 branches including ones in Novosibirsk, Ekaterinburg,Samara and Nizhny Novgorod.

OOORaiffeisen Leasing plans further regional development in order to meet expectations of its clients throughout Russia. The current leasing portfolio of the company is 145 mln Euro, 67% of which is leasing of assets on wheels and 33% is leasing of industrial equipment andspecialized machinery.

 

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