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Sberbank and KazakhExport supported the export of Kazakhstan batteries to Russia

Sberbank and KazakhExport supported the export of Kazakhstan batteries to Russia

Sberbank has provided trade financing for an export contract to the Kazakhstan battery manufacturer «Kainar-AKB» for the supply of products to the Russian Federation, the Bank's press service reports.

ТОО "Кайнар-АКБ"
Казахстан, г. Талдыкорган, ул. Медеу, 1
+7 (7282) 23-32-34
17.05.2017

Sberbank has provided trade financing for an export contract to the Kazakhstan battery manufacturer «Kainar-AKB» for the supply of products to the Russian Federation, the Bank's press service reports.

"Kainar-AKB is our long-term and reliable partner, which is actively developing its business. Last year alone, the export of the company's products grew more than 2-fold - said Yeldar Tenizbaev, Deputy Chairman of the Board of SB JSC "Sberbank". - We were pleased to offer our client a new form of cooperation - trade financing under an export contract. The deal is attractive for all participants, the importer receives financing on favorable terms, and the exporter, shifting payment risks to the bank, expands the geography of sales. Sberbank intends to further promote the growth of exports of Made in Kazakhstan products. "

SB JSC "Sberbank" assumed payment risks of receiving the proceeds by the client, confirming the letter of credit issued by one of the banks of Russia in favor of the exporter. At the same time, these risks were reduced, thanks to the insurance coverage of JSC "Export Insurance Company" KazakhExport "(a subsidiary of JSC" NUKH "Baiterek"). Also, within the framework of cooperation between the bank and the export insurance company, an agreement was concluded that would allow preferential financing for foreign buyers of export products under documentary letters of credit.

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