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Sberbank Opens Two Credit Lines for Obuv Rossii For the Total Amount of 435 mln Rubles
Novosibirsk, 14.06.2017: During the first half of June, Sberbank and the Obuv Rossii Group of Companies signed credit agreements according to which the Bank provides two non-revolving credit facilities to the Group for the total amount of 435 mln rubles for the period of 2 years 9 months and 2.5 years respectively. The attracted moneys will be used to finance day-to-day activity of the Group including targeted financing of a contract for the production of footwear for Sberbank’s collection service and guards.
Obuv Rossii has cooperated with Sberbank since 2005 when the first credit line was opened. Currently, the main lines of work in addition to crediting are settlement and cash services, a payroll card program, collection and acquiring. “We are glad to extend our cooperation with the biggest bank in our country. Due to the bank’s support, we develop our business including our manufacture, which creates a basis for enhancing competitiveness of our company” says Anton Titov, Director of Obuv Rossii GC.
“One of the key lines of the bank is providing support to our partners that have successful experience in the implementation of a strategy for their development, enterprises that develop domestic industry, build their business on the principles of financial transparency” comments Anton A. Kamenev, Deputy Head of the Novosibirsk Branch of PAO Sberbank.
In 2016, within the manufacture development program, Obuv Rossii opened a new workshop for the production of special footwear at a factory in the town of Berdsk, Novosibirsk Region. In Autumn, it presented its own collection of tactic and military footwear consisting of over 80 models at the Armiya-2016 Exhibition. This year, the Company started to tap into the market of corporate shoes. A contract with Sberbak for three years for the production of more than 80 thousand pairs of shoes for the collection service and guards of the Bank became a significant contract for the manufacture of such shoes. The Company supplied the first lot of the shoes to Sberbank last week.
Information about the companies
Obuv Rossii Group of Companies is a Federal show company, one of the top three biggest shoe retailers in Russia, a leader in the mid-price segment of the shoe market. The Group was founded in 2003 with the headquarters in Novosibirsk. The main business lines of the Group are show production, retail and wholesale of shoes and related products. Obuv Rossii develops five shoe chains: Westfalika (monobrand, mid-price segment), Peshekhod (multibrand shoe supermarket), Emilia Estra (shoe boutique), Rossita (a store for the whole family) and Lisette (showroom of fashion shoes.) The Obuv Rossii shoe chain consists now of more than 450 store in more than 100 cities. RAEX (Expert RA) assigned the А+ rating to the Group (a high level of creditworthiness), third sublevel, stable outlook. According to Russian Accounting Standards, revenues of the Company in 2016 were 10 bln rubles; the net profit – 1.3 bln rubles. The Company has online stores of westfalika.ru, westfalika-home.ru, emilia-esta.ru, rossita.com. You can find more details about the Company at www.obuvrus.ru.
PAO Sberbank is the biggest bank in Russia and one of the leading global financial institutions. Its share in the Russian banking sector is about one third of the assets. Sberbank is a key creditor for the national economy occupying the biggest share of the deposits market. The Central Bank of the Russian Federation is the founder and main shareholder of PAO Sberbank owing 50% of its authorized capital plus one voting share. The other 50% of the Bank’s shares are owned by Russian and international investors. Over 135 mln individuals and over 1 mln enterprises in 22 countries of the world use Bank’s services. The Bank has the most extended branch network in Russia: about 17 thousand branches and internal structural subdivisions. The foreign network of the Bank consists of subsidiary banks, branches and representative offices in Great Britain, USA, CIS, Central and Eastern Europe, Turkey and other countries. General Banking License of the Bank of Russia – 1481. Official websites of the Bank: www.sberbank.com (website of the Sberbank Group), www.sberbank.ru.