Sberbank CIB, the corporate and investment banking business of Sberbank, has opened a four-year credit line worth 10 billion roubles for JSC Leasing Company Europlan.
This money will be used to finance leasing operations, and refinance bonded loans and debts to other banks.
“Europlan is a key Sberbank client on the Russian car leasing market. This deal again demonstrates the mutually beneficial, long-term nature of our relationship with this major market player,” commented Olga Klyachko, Senior Managing Director and Head of the Financial Institutions Division of Sberbank’s Largest Clients Coverage Department.
“Favourable lending conditions and an existing multiple-year relationship continue to be the main factors we take into account when selecting financial partners. This is the sixth credit line that Sberbank has opened for Europlan. In 2017 we have a 10 billion rouble credit limit. We highly appreciate this trust in our enterprise – an independent automotive leasing company in the SME segment. Stable financing from Russia’s largest bank gives us the opportunity to enter into new leasing contracts and help grow our clients’ business,” commented Alexander Mikhaylov, Chief Executive Officer of JSC LC Europlan.
Founded more than 18 years ago, JSC LC Europlan is a leading Russian automotive leasing company in terms of new business volume. The company is present throughout Russia with 72 branches that employ over 1,500 people. The company has around 67,000 clients with whom it has entered into more than 245,000 contracts. Europlan carries out leasing operations as the universal legal successor of PJSC Europlan, from which it was spun off as a wholly owned subsidiary.
Sberbank CIB1 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.