Business news

Belarusbank, German DZ BANK sign credit line agreement

MINSK, 17 August (BelTA) – Belarusbank and German DZ BANK AG Deutsche Zentral-Genossenschaftsbank (DZ BANK) sign a credit line agreement, the Belarusian bank told BelTA.

The document is an analogue of a basic agreement and is meant for the conclusion of individual long-term and short-term loan contracts to finance the import of the German equipment to the Republic of Belarus. The agreement contains all core standards that make it possible to reduce time for consideration and signing of individual loan contracts.

Belarusbank has been taking an active part at the international capital market, diversifying relations and seeking new foreign institutions open for cooperation with the Republic of Belarus. In H1 2010 Belarusbank increased the amount of attracted foreign lending resources by almost $340 million, 65%. As of 1 July they reached $860 million.

DZ BANK is the fifth largest bank in Germany and is acting as central bank for approximately 1000 cooperative banks. The bank can count a long lasting business experience of almost 125 years on the German corporate banking market. The bank maintains its outposts and subsidiaries in Europe, America and Asia.

According to the bank’s report, in early 2010 its total assets made up €388.5 billion, operation profit reached €5.5 billion.

Belarusbank is the largest financial institution of the country offering to its customers more than 100 types of banking products and services including cash settlements, lending, deposit banking, leasing, factoring, cash collection, international and interbank settlements, foreign currency exchange and conversion, plastic cards transactions, consulting and depository services. The banking structure comprises six regional branches, 55 subsidiaries, 1842 outlets and 81 banking service centers.

send friend

print version

make home page

add to bookmarks