News

In the framework of Trade Facilitation Program the European Bank of Reconstruction and Development has increased the volume of its guarantees to Absolut Bank for 15 Million USD.

“Extension of cooperation between Absolut Bank and European Bank of Reconstruction and Development in the framework of Trade Facilitation Program is another confirmation  of the high level of financial stability and a regular result of the bank’s activity on the Russian and international financial markets”, - Vice-President , Head of the Departments of international business Mr. Anatoly Maksakov says.

Direct credit lines from international financial institutions and export credit agencies for the total sum of more than 150 Million USDollars confirm ones again the high reputation of Absolut Bank.

Financial and business indexes of Absolut Bank activities in 2004 witness to the stable trend towards growth of the main directions of bank’s business as a result of the consistent policy of the bank’s management and thoughtful approach to the estimation of risks and development prospects. Since the beginning of 2004 the Bank has financed international bargains for the total sum of more than 158 Million USD, has given mortgage and pawn credits for the total sum of more than 10 Million US Dollars.

Reference Note:

Absolut Bank is a private Russian bank.

It was founded in 1993 and has a general license of the Central Bank of RF №2306.

The main direction of the activity of Absolut Bank is financing and bank servicing of Russian commercial companies and private persons.

Absolut bank has the following ratings of the International agency Fitch Ratings:

Long-term “B-“, short-term “B”, prognosis of long-term rating “stable”, individual rating “D”, rating of support “5”, national BB+ (rus).

Absolut Bank has joined the Trade Facilitation Program of the European Bank of Reconstruction and Development in the beginning of 2004.

According to the magazine “Profile” on July,1, 2004, the Bank occupies the 7^th place in the rating of reliability of the biggest Russian banks.