Raiffeisenbank and the Ministry of Agriculture signed an agreement for joint implementation of the program for preferential loans to agroindustrial producers.
The program for new concessional lending, which came into force on the 1st of January 2017, enables Raiffeisenbank to lend to such enterprises at a rate of max.5% p. a.
The borrowers will be able to use the loans for construction and modernization of the agricultural infrastructure, purchase of raw materials, boosting of their crops and livestock, dairy farming, as well as for purchase of agricultural machinery.
«Cooperation with the Ministry of Agriculture enables Raiffeisenbank to provide long-term loan funding with attractive price parameters to companies of agroindustrial sector. This is particularly important in the current market conditions,» says Oksana Panchenko, board member, head of Corporate Banking and Corporate Finance Directorate. «A number of customers from different Russian regions have already expressed their interest in working with us on this program. We believe that this product will be in demand with the bank’s customers.»
In autumn last year, Raiffeisen began collaboration with Small and Medium Businesses Corporation within a program to stimulate lending to small and medium-sized businesses («Programme 6.5»). Raiffeisen’s SME customers will be able to obtain financing at the rate of 9.6% p. a.
AO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 14th among the Russian banks in terms of assets, based on 2016 results (Interfax-CEA). According to the same Interfax-CEA data, AO Raiffeisenbank ranked 10th in terms of liabilities of individuals and 7th with regard to consumer lending.
Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, as well as 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 14 markets. In total, around 51,000 employees service 14.2 million customers through around 2,600 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 60.7 per cent of the shares, the remainder is in free float. RBI’s shares are listed on the Vienna Stock Exchange. 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.