The Russian government will increase the share
capital of state-owned Russian Agricultural Bank (RAB) by RUB45
billion (€970 million) and Rosagroleasing by RUB25 billion, after
Rosagroleasing reported its investment resources had been exhausted
and it had no other options available.
program entitled Two-tier SME Lending Support Using Leasing
Arrangements to the nation’s Chamber of Commerce, prompting
discussion over how to select which companies and projects to
target for support as Russian companies struggle with the global
company, saw leasing revenue double in 2008, to reach €96.5
million. The company also said that its total assets had increased
by 25.5 percent to reach €471 million.
Meanwhile, Latvian Parex Bank may
sell its Belarusian leasing arm to Rietumu Banka, in the wake of
the latter’s acquisition of WestLeasing last May.
“We wish to overtake Parex’s
leasing portfolio in Belarus and our shareholders support this,”
said Arkadijs Suhorenko, Rietumu Banka’s deputy chairman.
Rietumu Banka in December also
announced interest in acquiring Parex’s portfolio in Russia.
Elsewhere, in Ukraine
€80 million on the back of a loan it received from the European
Bank for Reconstruction and Development in December 2008.