AK BARS Bank arranges mid to long-term financing of its clients’ investment projects with the attraction of foreign financing for the purposes of:
- establishing new production;
- reconstruction, modernisation or the expansion of existing production.
The subject of financing is an import contract for the delivery of equipment, machinery, instrumentation, means of transport, technological lines, mini-plants; as well as for completion of construction works and delivery of services in assembly, finishing, and setting up of equipment etc.
Due to its fruitful co-operationwith foreign financial institutions, AK BARS Bank issues loans to enterprises and companies using foreign investments.The Bank has already been approved for financing of projects by a number of European export credit agencies and has been co-operating with the following banks:
|Country||State export credit agency||Banks|
|AKA Ausfuhrkredit-Gesellschaft mbH|
|Landesbank Berlin AG|
|Deutsche Bank AG|
|Czech republic||EGAP||Komercni Banka AS|
|Italy||SACE||Intesa Sanpaolo SpA|
|Austria||OeKB||Raiffeisen Bank International AG|
|UniCredit Bank Austria AG|
|Belgium||ONDD||KBC Bank N. V.|
Depending on the clients’ needs, the Bank is prepared to arrange export financing from any country which is a member of the OECD (Organisation for Economic Cooperation and Development).
The Bank offers to finance projects with non-standard parameters. Terms of financing are agreed on a case-by-case basis.
Mid to long-term import financing from Joint Stock Commercial Bank AK BARS includes:
- Established long-term relations of AK BARS Bank with the leading banks of the world
- Experience in delivering clients’ projects with state export credit agencies of leading countries of the world
- Attractive terms of financing
- Long- term lending periods
Favourable terms and conditions for repayment (by equal semi-annual installments).
- The period of the company or a business group's (several companies under one owner) genuine operation in its field of business should be not less than 3 years.
- Break-even business for the last 4 quarters.
- Absence of overdue commitments to appropriated or off-budget funds
- Financing to the value of proprietary resources of not less than 15% of the contract value, and not less than 15% of ECA insurance fee
- The borrower must possess a business-plan for the project, completed construction and licensing documents, as well as specifications for the required equipment at the documentation stage.
- Other requirements
- Importer addresses the Bank with an application for financing of foreign trade contract for export of goods/services out of Russian Federation.
- Importer delivers package of documents to the Bank.
- Credit Committee of the Bank makes a decision concerning financing of the project.
- In case of the Credit Committee of AK BARS Bank and the Credit Committee of a foreign bank and state export credit agency approving financing for the project, all the required documents are signed, including agreement between AK BARS Bank and the Russian importer and the interbank loan agreement between AK BARS Bank and foreign financing bank.
- Draft of a prospective foreign trade contract;
- Description of the planned investment project with indication of volumes and terms of production, the required amount of the attracted facilities and planned payback period;
- Business plan of the project with technical and economic assessment of the planned monetary turnover inclusive of service of any foreign currency loans attracted;
- Financial statements for the enterprise for the last 3 years under review (audited statements if any);
- Information concerning the supplier of the equipment, and non-resident banks servicing the supplier under the foreign trade contracts;
- Information about the types of security guaranteeing the refund of loan facilities;
- Other documents at the Bank’s request.