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SDM-Bank obtains RUB 150 mln SME financing loan from EBRD


The European Bank for Reconstruction and Development has disbursed the first SME financing loan tranche in amount of RUB 150 mln. As a part of the strategic partnership EBRD is providing the 5 year SME loan totaling RUB 300 mln. The loan agreement was signed in December 2013.

This is the third loan from EBRD for SME lending growth. The first two unsecured loan facilities totaling RUB 375 mln were granted in 2010. Out of those funds RUB 225 were designated for lending to small and medium-sized enterprises, while the rest RUB 150 mln were channeled to micro-lending development. The 2013 loan is entirely aimed at SME financing growth.

The EBRD became a major international institutional shareholder in SDM-Bank’s equity in 2011 when it acquired a 15% stake and is represented on the bank’s board of directors. In December 2013 EBRD Board of Directors approved the increase of its stake up to 19.8%.

«This collaboration has strengthened SDM’s corporate governance and enhanced the operational efficiency of the bank, said George Orlov, the EBRD’s Director for Financial Institutions, Russia. - The EBRD's equity investment and loan will support SDM-Bank's growth and development strategy which is focused on the Russian SME sector».

«The new equity investment and loan facility complement SDM-Bank's core business - supporting and developing the SME sector in Russia - while giving greater access to credit for our existing and future customers. Our strategic partnership and the increase of EBRD share in SDM-Bank up to almost 20% certainly brings our business to the whole new level» commented Maxim Solntsev, CEO of SDM-Bank.

About SDM-Bank

JSC SDM-Bank was established in 1991. The bank holds license No 1637 issued by the Bank of Russia. The bank participates in the Deposit Insurance System since 2004. The bank offers services to small and medium enterprises and their employees.

The Bank's head office is in Moscow. Its branch network comprises 13 full-service branches in Moscow and Moscow Region, 9 regional branches in Perm, Voronezh, Saint-Petersburg, Krasnoyarsk, Tver, Nizhniy Novgorod, Omsk and Rostov-on-Don, Yekaterinburg and a representative office in London.

As of the end of 2013 SDM's Capital was RUB 4.4 bn, SDM-Bank’s Net Assets were RUB 38 bn (under IFRS).

In May 2013 Fitch Ratings upgraded SDM-BANK’s IDR to «B+» with a Stable Outlook.

About EBRD

The European Bank for Reconstruction and Development (EBRD) fosters transition to market economies in countries from central and eastern Europe to central Asia and the southern and eastern Mediterranean.

The European Bank for Reconstruction and Development (EBRD) is an international financial organisation headquartered in London that funds projects in over 30 countries from Central and Eastern Europe to Central Asia and the southern and eastern Mediterranean. EBRD was founded in 1991. Its shareholders are 64 governments and two international institutions, the European Investment Bank and the European Union (EU).