ZAO Raiffeisenbank Austria launched its small business lending programme on 5 April, the bank said in a press release.
The loans would be available to companies which have operated in Russia for at least two years and which are open to a partnership of trust with the bank. The loans will range from US$10,000 to US$1.5m, depending on the size of a business and will be issued in rubles, dollars and euros.
Thus, ZAO Raiffeisenbank Austria is now prepared to lend to companies of all sizes: to small businesses with annual turnover of up to US$5m, to medium businesses with turnover of US$5m-US$25m and to large businesses with turnover of more than US$25m.
ZAO Raiffeisenbank Austria was Russia's 11th biggest bank by assets at the end of 2004, according to the Interfax Center for Economic Analysis's Interfax-100 ranking of the country's biggest lending institutions.
Source: Europe Intelligence Wire
