Russia's Petersburg Social Commercial Bank helping industry to boost seafood and hardware import operations

Russia's Petersburg Social Commercial Bank, OJSC (PSCB) performs the entire range of banking transactions in Russian Rubles (RUB) and foreign currency in St. Petersburg and Moscow.

Among numerous other activities, PSCB, as a universal commercial bank, has been increasingly crediting seafood and equipment import operations for the involved players. PSCB participates in two international programs of the International Finance Corporation (IFC), the World Bank Group: 'Russia Banking Sector Corporate Governance Project' (web-site: http://www.ifc.org-/ifcext/rbcgp.nsf/Content/Home ) and 'Russia Primary Mortgage Market Development Project' (web-site: http://www.ifc.org/russia/mortgage ).

The Bank is highly interested in attracting credit facilities and developing relationships with foreign banks-partners and international companies active in Russia, in various fields of business, including:

• Direct loans from foreign partners for developing PSCB's SME loan portfolio and mid/-long-term financing of our Russian corporate customers,
• Long-term financing facilities for supporting our Bank's mortgage loan portfolio and some other retail business lines,
• Attracting direct equity and long-term trade/debt finance from international financial institutions and other foreign counterparts (including - raising subordinated loans convertible into equity),
• Arranging syndicated loans in USD/ EUR and RUR (as well as in other currencies),
• Development of long-term cooperation with foreign banking groups, and involvement of PSCB as an official bank-partner in specialized programs of international financial organizations active in Russia in the field of Global Trade Facilitation and Trade Finance, Leasing Transactions, Risk Management, SME business development, etc. (including, technical assistance programs),
• Establishing business relations with potential strategic investors, interested in developing long-term business presence in Russia via strategic partnership with PSCB.

In February 2007 PSCB signed a Framework Loan Agreement with its German partner AKA Export Finance Bank - under the Agreement PSCB and AKA Export Finance Bank (a specialized German bank for export financing) jointly grants medium-term special purpose loans covered by the German Export Credit Agency Euler Hermes Kreditversicherungs-AG both in US dollars and EURO to Russian importing companies.

On 26 November 2007, PSCB signed an Agreement with the U.S. bank-partner - UPS Capital Business Credit for financing import of U.S. goods and equipment secured by the Export-Import Bank of the United States of America (Ex-Im Bank of the USA). UPS Capital Business Credit and PSCB, in accordance with the signed Agreement, intend to provide mid-term special loans secured by the U.S. export credit agency - the Export-Import Bank of the United States of America in USD (for purchase of U.S. made goods and equipment) to Russian importers. Credit Facility amounts in total USD 5,000,000 under the Agreement between UPS Capital Business Credit and PSCB.

It should be noted that PSCB, as one of its strategic tasks, intends to develop partner relationships with foreign banks-partners for co-financing of target programs and some customers of the Bank, as well as to take part as an official bank-partner in the specialized projects and programs of international financial institutions in Russia, including - potential raise of debt and equity finance.

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