“UkrSibbank” signs “General Agreements” for the total amount of nearly USD 55 mln

As of the beginning of 2008 “UkrSibbank” has closed credit deals for the total amount exceeding USD 55 mln under “General Agreement” Program targeted at SME clients.

“Every month a lot of entrepreneurs and representatives of small and medium-sized enterprises enter into loan agreements under “General Agreement” Program,” – declared Vladlen Dyedkov, Head of SME Department of JSCIB “UkrSibbank”. – “Tremendous amount of our clients has already benefited from the advantages of the innovational “General Agreement”. General Agreement Program is very popular due to the fact that it provides for the possibility to use one and the same collateral to secure several loans. This approach enables customers to save time and money, as it is not required to re-pledge the collateral under the new loans, and the process of new loan origination takes less time. In addition, the clients are offered an option to choose the currency for each loan separately. Furthermore, financing conditions of each tranche are identical to the ones of a regular loan as regards price, terms, etc., i.e. all the expenses to be incurred by a client are perfectly clear and comprehensible. I would also like to mention that “General Agreement” is a real godsend for the clients of SME segment. We are not going to rest on oars and we assure you that “General Agreement” will shortly become even more attractive”.

“General Agreement” is an exclusive credit product developed by “UkrSibbank” for SME clients. This product envisages various types of loans for working capital finance, acquisition of the commercial real estate, equipment, car, etc. At that, the type of borrowing, amount, term, interest rate and other specific parameters of lending and repayment shall remain standard. Maximum amount of financing – up to 85% of the collateral value. Interest rate under such loans equals to 9.99%, maximum lending term is up to 16 years with an option of further prolongation.

Reference:
JSCIB “UkrSibbank” (www.ukrsibbank.com) was registered on June 18, 1990. The Bank has a full NBU license on banking ¹ 75 of December 24, 2001. As of 01.02.2008: net assets – UAH 37.3bn, capital – UAH 4.09bn, loan and investment portfolio makes up UAH 32.8bn, corporate customers’ funds – UAH 4.5bn, individuals’ funds – UAH 6.6bn. Regional network currently amounts to more than 1 000 branches and outlets throughout Ukraine. 69 thousand of Ukraine’s businesses are customers of JSCIB «UkrSibbank», the amount of individuals’ accounts exceeds 3.2 mln. In April 2006, BNP Paribas purchased 51% of shares in JSCIB “UkrSibbank”.

BNP Paribas (www.bnpparibas.com) is a European leader of international banking and financial market and one of the four largest banks in the world according to the Standard & Poor’s Rating Agency. The Group is operating in more than 85 countries, and its headcount exceeds 161 000 employees, including 125 000 of them working in Europe. The Group holds top positions by developing key directions: corporate and investment banking, asset management and retail banking.

The Group is represented in Europe in all key business streamlines, and major internal markets for retail banking services are Italy and France. BNP Paribas occupies leading positions in the USA as well as in Asia and emerging markets.

Press-center of JSCIB “UkrSibbank”:
Liliya Bevzyuk +38 (044) 537 49 18 bevzuik@ukrsibbank.com
Tatyana Shikeryavaya +38 (044) 201 22 71 t_shikerjavaja@ukrsibbank.com
Anna Glinko +38 (044) 201 22 71 Anna.Glinko@ukrsibbank.com
Victoriya Pashchevskaya +38 (044) 201 22 71 v_pashchevskaya@ukrsibbank.com