AK BARS Bank provided financing to Belorussian bank as part of the syndicated loan agreement

AK BARS Bank joined the syndicated loan for JSC Belagroprombank with EUR 10 mln. share. The facility agreement was signed on 22 March, 2017, total amount of the deal made up EUR 190 mln.

The syndicate participants list includes Otkritie Bank, Transcapitalbank, Promsvyazbank, Gazprombank, Russian Agricultural Bank, Sovcombank and others.

The funds provided by AK BARS Bank and other participants will be utilized for the borrower’s general business purposes, as well as for realization of trade finance contracts of the Borrower’s customers dealing with the supply of goods and equipment from the Russian Federation and other foreign countries.

Since 2002, AK BARS Bank has been a participant of syndication market both as a borrower and a lender. The mentioned deal is among the Bank’s partnership projects implemented over the recent years on providing funds by the Bank to EEU financial institutions, and is regarded as one of the significant areas of the Bank’s business development.

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On 10 July, 2018 Moody’s Investors Service upgraded to b3 from caa1 the Baseline Credit Assessment (BCA) of Ak Bars Bank.
Agency evaluated the Bank’s key indicators: assets, equity, borrowed funds, individual bank deposits, loan portfolio, additionally, assets and equity growth rates, individual and corporate loans.