Sberbank of Russia borrows trade finance loan from HSBC Bank Plc for US$ 100,000,000

Printer-friendly versionPDF version

26 November 2010, Moscow –Sberbank of Russia (RTS: SBER, MICEX: SBER03) and HSBC Bank Plc have signed an agreement for providing Sberbank of Russia with a $100 mln one-year trade finance facility.

Deputy CEO of Sberbank Andrey Donskikh has said: "Cooperation with HSBC will let Sberbank offer its corporate customers some new and more competitive products to finance their foreign trade operations. We are confident that this deal will give a new stimulus to enhancement of relationship between two banks and will bring along strengthening of partnership with one of the leading financial institution in the world”.

Managing Director of HSBC Bank Plc Tony Brooks has said: "Sberbank is an important client for HSBC's Financial Institutions business and we are delighted to have signed this agreement.  Trade Finance is a very important product within HSBC and the opportunity to co-operate with the largest Russian bank demonstrates significant momentum for our business partnership".

 ###

Sberbank of Russia

Alexander Bazian
Public Relations
Phone: +7(495) 957 5721

media@sberbank.ru

News Source : Sberbank of Russia borrows trade finance loan from HSBC Bank Plc for US$ 100,000,000