On 7th July 2009, the Federal Antimonopoly Service (FAS Russia ) initiated a case against «BANK URALSIB» OJSC and «Toyota Bank» CJSC for violating Part 2 Article 11 of the Federal Law «On Protection of Competition» (prohibiting competition-restrictive agreements).

The case was initiated upon investigation of a cooperation agreement between the banks. FAS Russia was notified about the agreement in accordance with Part 9 Article 35 of the Federal Law «On Protection of Competition».

Under the agrement, «BANK URALSIB» OJSC is obliged to not recommend physical persons to get a loan from «BANK URALSIB» OJSC for buying cars, manufactured by the Toyota.

According to the information published on «BANK URALSIB» website, «BANK URALSIB» OJSC grants loans for buying cars and it is possible to obtain loans for any new or second-hand foreing-made car, or a new Russian car.

By including the above provision in the agreement, «BANK URALSIB» OJSC effectively refuses to credit physical persons for the purposes of buying the cars, manufactured by the « Toyota » Concern, from official dealers of the Concern.

Under Clause 17 Article 4 of the Federal Law «On Protection of Competition», refusal by economic entities that are not members of the same group of persons for independent actions on the goods market constitutes a sign of restricting competition.

Agreements between economic entities that have resulted or can result in restricting competition are forbidden under Part 2 Article 11 of the Federal Law «On Protection of Competition».

The case hearing is scheduled for 13th August 2009