Bank Finance and Credit resumes lending for purchasing Stakhanovsk railway cars

press-release

Within the framework of Domestic Producer Support Program launched in January 2009 the Bank Finance and Credit resumed lending under the customer program called Railway Cars Lending, and provided UAH 300 million to implement lending program for purchasing railway cars manufactured by the OJSC Stakhanovsk Wagon Works.

According to Oleg Shapkin, Deputy Chairman of the Board, Bank Finance and Credit - `The Bank is ready to provide lending for corporate customers wishing to purchase railway cars from the wide range of products manufactured by the OJSC Stakhanovsk Wagon Works. I think it will result in a substantial increase of sales volumes of the enterprise and stimulate its further dynamic development`.

Eduard Misevra, Chairman of Supervisory Board, OJSC Stakhanovsk Wagon Works said - `Lending program for one of the largest domestic car production facilities will enable us to meet needs of those customers who experience a lack of circulating assets in 2009. According to our estimations, having this credit support of UAH 300 million from the Bank Finance and Credit the works will be able to not only retain but also to increase its market share by some groups of railway cars`.

Railway Cars Lending program was developed and launched in the bank in 2006.

Under the program terms and conditions a loan may be provided in UAH for the period of 3 years, customer`s own funds participation is a must. Purchased railway cars are taken as a collateral.

For more detailed information regarding the program please visit our website: www.fcbank.com.ua

Information:

Bank Finance and Credit was founded in 1990 and is of the largest banks by its assets according to the NBU classification. Charter capital of the Bank as of 01.02.2009 makes up UAH 2 billion. Net assets of the Bank as of 01.02.2009 amounted to UAH 18. 543 billion, bank`s liabilities made up UAH 16.068 billion. Loan portfolio of the Bank as of 01.02.2009 equaled to UAH 15.963 billion, volume of borrowed funds as of 01.02.2009 made up UAH 9.048 billion. Bank serves over 153 thousand retail term deposit accounts, as well as 233 thousand current accounts. Retail loan portfolio of the Bank Finance and Credit as of 01.02.2009 made up UAH 6.209 billion.

As of 01.02.2009 the Bank Finance and Credit issued over 960 thousand payment cards of international payment systems VISA and MasterCard. Bank`s own banking card business infrastructure comprises of 4,148 service outlets and 544 cash withdrawal points. Joint ATM network of the bank Finance and Credit, Ukrsibbank, Ukrsotsbank, Praveksbank and Rodovid Bank consists of 3,649 ATMs. As of 01.02.2009 the system of the bank finance and Credit includes 16 branches and 352 banking outlets all over Ukraine.

        Stakhanovsk Wagon Works is a member of Holding Company AvtoKrAZ, it produces railway gondola cars, platforms, mineral wagons, boxcars, containers, as well as railway transporters and wagons for bulk shipment of cement and flour. 

As of the year end 2008 net assets of Stakhanovsk Wagon Works made up UAH 95.162 million. Assets of the works as of the year end 2008 equaled to UAH 1.117 billion. Total accounts receivable of the works as of the year end 2008 amounted to UAH 710.364 million, current liabilities made up UAH 830.583 million.

Contact:
Yuliya Zagorodnya,
Chief of Informational
and Media Support Department
"Finance and Credit" Bank
tel.: +38 (044) 499-26-48
 e-mail: yuliya.zagorodnya@fcbank.com.ua