IFC Helps Russia’s Transcapitalbank
Expand Small Business Financing
Moscow, Russian Federation, May 16, 2013—IFC, a member of the World
Bank Group, will help Transcapitalbank diversify its funding base and expand
access to finance for small and medium enterprises in Russia.
While the financial crisis continues to keep many foreign investors away
from the Russian economy, IFC facilitated a €116.5 million loan by mobilizing
funds from international financial markets. Transcapitalbank will use the
loan to support the foreign trade transactions of its clients—small businesses
located in Russian regions—and in doing so contribute to the growth and
diversification of local economies.
“We are pleased with another successful transaction for Transcapitalbank
in international capital markets. Despite a somewhat volatile climate,
this result was achieved due to strong fundamentals of the bank and
our long-standing history as a reliable partner in international markets,”
said Evgeni Ivanovski, Vice Chairman of Transcapitalbank.
The transaction is part of the IFC A/B financing package, which consists
of $18.2 million (€14.5 million) to support the bank's energy efficiency
finance program and a €116.5 million syndicated loan from a consortium
of 15 commercial banks.
“IFC's strategic role at this time is to facilitate access to international
financial markets for strong, privately-owned Russian banks, and thus expand
funding options for Russia’s small and medium enterprises, particularly
in the regions,” said Tomasz Telma, IFC Director for Europe and Central
Commerzbank AG, VTB Bank (Deutschland) AG, Standard Chartered Bank,
and Raiffeisen Bank International AG were all named as mandated lead arrangers
and book-runners in the transaction. Amsterdam Trade Bank, Credit Europe
Bank and Isbank AG were named as lead arrangers, while Intesa Sanpaolo
S.p.A. - London Branch was named co-arranger. AKA Ausfuhrkredit-Gesellschaft
m.b.H., GarantiBank International, Oberbank AG, UBI Banca, Demir-Halk Bank
(Nederland) N.V., Banque de Commerce et de Placements and Monte Paschi
Banque were each named manager.
Russia became an IFC member and shareholder in 1993. Since then, IFC has
invested more than $10 billion in the country, including $3.2 billion in
syndicated loans, and has been involved in 270 projects across a variety
of sectors. IFC’s investment portfolio in Russia stands at $2.3 billion.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.
Transcapitalbank is a universal bank, providing a wide range of banking
services for individuals and legal entities since 1992. The Bank positions
itself as a regional bank and its network comprises 78 outlets, located
in 18 regions of the Russian Federation. Presently, Transcapitalbank ranks
among the top 50 Russian banks in terms of assets and total equity. Its
customer base consists of over 33,700 corporate clients and more than 246,400
retail ones. For more information, visit www.transcapital.com.