Sberbank has Signed the Protocols With TurkEximBank and the Investment Support
and Promotion Agency of Turkey
ISTANBUL,Turkey, December 3, 2012
ISTANBUL,Turkey, December 3, 2012 /PRNewswire/ --
Sberbank has signed a Memorandum of Understanding with TurkEximbank to raise
trade volumes to 1 billion US dollars between the two countries , and a
Memorandum of Understanding with the Investment Support and Promotion Agency
of Turkey. Under the Memorandum of Understanding both parties have agreed to
strengthen relations through investment cooperation , to facilitate the
identification and implementation of investment projects in Russia and Turkey
and to promote the investment climate of the two countries.
The Export Credit Bank of Turkey (TurkExim) and Sberbank of Russia, the
largest financial institution in Russia, the CIS and Eastern Europe, today
signed a $1 billion Memorandum of Understanding (MOU) to facilitate an
increase in the export of Turkish goods and services to Russia and other
countries in which Sberbank operates and TurkExim programs are available.
TurkExim General Manager Hayrettin Kaplan and Herman Gref, Chief Executive
Officer and Chairman of the Board of Sberbank, signed the Memorandum of
Understanding. The signing took place during the working visit of the
President of Russian Federation Vladimir Putin to Turkey. According to the
terms of the agreement, TurkExim and Sberbank intend to support up to $1
billion in Turkish exports to buyers in Russia and other target countries over
the next 3 years. TurkExim will consider increasing the amount of financing
support should demand exceed $1 billion.
Investment Support and Promotion Agency of Turkey (ISPAT) and Sberbank of
Russia have today signed a Memorandum of Understanding. Ilker Aycı, President
of the Agency, signed the Memorandum on behalf of the Agency and Herman Gref,
CEO and Chairman of the Board of Sberbank, signed on behalf of Sberbank of
Russia. Under the Memorandum the parties have agreed to strengthen relations
through cooperation in investment, to facilitate the identification and
implementation of investment projects in Russia and Turkey and to promote the
investment climate of the two countries. In addition, the Memorandum provides
for assistance through exchange of information and recommendations during the
promotion and implementation of investment projects and transactions.
Sberbank's Chairman Herman Gref, commenting on the signing, said, "Russia and
Turkey are strategic partners and share increasing international trade flows
and mutual investment projects. Our target is to increase the financing of
operations between Russian and Turkish companies, a goal which the recent
integration of DenizBank into the Sberbank group will support. This Memorandum
of Understanding will significantly expand Sberbank's capabilities to support
our customers business via modern and efficient methods of financing in all
regions in which we have a presence". Pointing out that investment cooperation
between Russia and Turkey is actively developing Herman Gref commented: "The
signing of the Memorandum with the Turkish agency that has extensive
experience of promotion investment projects will strengthen the position of
Sberbank group in Turkey".
Sberbank of Russia is the largest bank in Russia and holds almost one third
of all Russian banking sector assets. The Central Bank of the Russian
Federation is the founder and major shareholder of Sberbank, owning 50% of the
total share capital plus one voting share. Other shares are held by more than
245,000 individual and institutional investors. The Bank has the largest
distribution network in Russia with over 19,000 offices as well as
subsidiaries in 20 countries including the CIS, Central and Eastern Europe and
Turkey. In September 2012, Sberbank completed the acquisition of DenizBank AS
which is ranked 6th among private and 9th among all Turkish banks by
consolidated total assets.
The Bank holds the general banking license No.1481 issued by the Bank of
Russia. The official website is http://www.sberbank.ru .
Contact: Sberbank of Russia, Alexander Baziyan, Public Relations, Tel.
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