Vozrozhdenie Bank has fully repaid EBRD loan facilities

16 April 2015

Vozrozhdenie Bank has fully repaid loans to the European Bank for Reconstruction and Development (EBRD) issued in November 2009 for the support of the real sector.

EBRD provided V.Bank with financing on USD35 million for on-lending to small and medium-sized private businesses and USD16 million from Russia Small Business Fund (RSBF) for on-lending to micro and small businesses.

Micro, small and medium-sized businesses are at the heart of EBRD’s mandate, same as for V.Bank, and for the years of mutually beneficial cooperation the bank has significantly extended its work with SMEs due to both financing raised and development of new products and services.

In 2012, with the support of EBRD Russia Small Business Fund, V.Bank launched Microbusiness programme for lending to micro and small companies that combined modified issuance technology, convenient terms tied to the needs of SMEs with thorough analysis of the financial standing of the potential borrowers to minimise credit risk. As of April 1, 2015 the programme covered 27 branches, while the portfolio reached RUB 1.8 billion.

Vozrozhdenie Bank Board of Directors held its regular meeting
Vozrozhdenie Bank Board of Directors held its meeting