IFC Helps Rostpromstroybank Expand Access to Finance
for Clients in Southern Russia
In IFC, Moscow:
Nezhdana Bukova
Phone: 7 (495) 411-7555
E-mail : nbukova@ifc.org
In IFC, Washington, D.C.:
Lotte Pang
Phone: 1 (202) 458-0952
E-mail: lpang@ifc.org
Moscow, Russia, August 29, 2008—IFC,
a member of the World Bank Group, is helping Russia’s Rostpromstroybank
expand access to finance for companies and retail customers in the south
of Russia. IFC will buy 20 percent minus one of the bank’s voting shares
from Igor Kim, the majority shareholder. This will support the bank’s
development program, help improve its corporate governance, and strengthen
its capacity in social and environmental management.
“IFC will provide us with additional resources for developing our business,
as well as with access to international funding, helping us serve our clients
better,” said Tatiana Shaposhnikova, Chairman of Rostpromstroybank’s
Management Board. "IFC will contribute its experience and global expertise
to help the bank grow and broaden its product line to include services
such as trade finance and project finance. The partnership with IFC will
bring a positive impact on the growth of local businesses and the economy
of the Southern Federal Region.”
“IFC’s financial markets strategy in Russia places a high priority on
improving access to finance in rural areas and on the stability of the
banking system, by helping consolidate this highly fragmented sector,”
said Nena Stoiljkovic, IFC Director for Central and Eastern Europe. “Rostpromstroybank
has a long history of serving local clients, and it has good prospects
for the future. We are very satisfied with the bank’s dynamic development
and excited to become a shareholder. We look forward to its growth and
expansion in the south of Russia,” she added.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth
in developing countries by financing private sector investment, mobilizing
private capital in local and international financial markets, and providing
advisory and risk mitigation services to businesses and governments. IFC’s
vision is that poor people should have the opportunity to escape poverty
and improve their lives. In FY07, IFC committed $8.2 billion and mobilized
an additional $3.9 billion through syndications and structured finance
for 299 investments in 69 developing countries. IFC also provided advisory
services in 97 countries. For more information, visit www.ifc.org.
Russia became a member and shareholder of IFC in 1993. Since then IFC has
invested more than $3.6 billion in the country, including $527 million
in syndicated loans. IFC’s investment portfolio in the country stands
at $2.24 billion, making it the largest country exposure for IFC globally.
IFC has invested in key sectors including banking, leasing, housing finance,
infrastructure, mining, agribusiness, pulp and paper, construction materials,
oil and gas, telecommunications, information technologies, retail, and
health care. For more information, visit www.ifc.org/Europe.
About Rostpromstroybank
Rostpromstroybank was established in 1922 as Industrial Bank and renamed
Stroybank USSR (Construction Bank of USSR) in 1959. The bank registered
as Rostpromstroybank in 1992. It is a universal bank that specializes in
financing small and medium enterprises. Its client base is very diverse,
from Rostov-on-Don and the Rostov region’s largest companies to small
businesses and individual entrepreneurs. The branch network includes a
head office and two outlets in Rostov-on-Don, an outlet in Belaya Kalitva,
and another in Salsk. Rostpromstroybank is ranked second in capital and
fifth in assets among the banks of the Rostov region. It is a member of
a banking alliance headed by URSA Bank headquartered in Novosibirsk.
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