Samedi 12 septembre 2009
6
12
/09
/2009
15:06
The
Federal Antimonopoly Service (FAS) wants to expand list of banks granting subsidized loans on Russian-produced cars.
At moment, only 8 banks are able to fulfill requirements.
FAS proposed that banks may apply from October 1 st to November
01st to Ministry of industry and trade and in case application documents are not properly done, they might be returned but nor more than 3
times.
The ministry seems to be globally supportive with FAS proposal, and FAS proposal is under validation with other ministries.
Source: bankir.ru -- Sept 07, 2009
Jeudi 10 septembre 2009
4
10
/09
/2009
15:11
Unicredit bank has amended its conditions for granting car loans to
individuals for the purchase of foreign cars.
In accordance with new conditions, the car loans standard program reduced rates for loans in rubles on average 1,5-3%.
-
For loans in rubles - 18,5% per annum during the term of the loan up to 3 years, 19%
for the term of the loan up to 5 years.
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For loans to purchase a used car loan rates in rubles are -19,5% per annum during the term of the loan up to 3 years, 20% - up to 5
years.
Source: Credits.ru -- Sept 10, 2009
Jeudi 16 juillet 2009
4
16
/07
/2009
00:00
Sberbank of Russian jointly with Volkswagen Financial Services Rus have declared launch of cooperation on auto loans programs for acquisition of Volkswagen, Audi
and Skoda from all official dealers of those brands.
Programs «Volkswagen Credit», «Skoda Credit» and «Audi Credit» shall cover
all models of light vehicles of Volkswagen, Skoda and Audi, from affordable small models to premium ones.
Lundi 13 juillet 2009
1
13
/07
/2009
21:03
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
Jeudi 9 juillet 2009
4
09
/07
/2009
22:04
The Russian Government has just updated the current program to support automotive industry.
In 2009 from
the federal budget are allocated grants to the Russian banks which have extended credits to individuals for acquisition of cars.
According to the changes, the indicated grants are granted regarding compensation of dropping out incomes under credits of individuals for acquisition not only passenger vehicles, but also other
Russian cars.
Cost of the car should not exceed 600 thousand rbl. (instead of 350 thousand as earlier), and complete weight - no more than 3,5 tons. The list of such vehicles advances Ministry of Industry and
Trade of Russia. The advance payment under the indicated credits should be introduced by individuals at a rate of not less than 15 % from motor vehicle cost, instead of 30 %, as earlier. Term of
the credit agreement cannot exceed 36 months.
According to the order such grants can be receipt not only the by the Russian credit organisations with 50 % sharing of the Russian Federation or the
Central Bank of Russia (and their affiliated companies), but also by the credit organisations, which equity
capital as of April, 1st, 2009 is not less than 70 billion rbl.
The
Governmental order of the Russian Federation of July, 7th, 2009 N 548 "On modification of the governmental order of the Russian Federation of March, 19th, 2009 N
244".
Lundi 29 juin 2009
1
29
/06
/2009
20:58
American International Group (AIG) annonce avoir conclu la vente de sa
filiale russe de crédit à la consommation à Banque PSA Finance, filiale à 100% de PSA Peugeot Citroën.
L'accord porte sur la vente de 98% des actions de la filiale et est assorti d'une option sur le solde exerçable après la mi-mars 2011, précise AIG dans un communiqué.
La filiale, OOO AIG Bank (RUS), a été créée en juin 2008 et emploie une dizaine de personnes, ajoute le groupe. La transaction demeure soumise à certaines conditions, notamment
l'approbation de la Banque Centrale de Russie.
Cette opération permet donc au Groupe PSA de détenir sa propre société de financement automobile afin de proposer via le réseau de concessionnaires des offres de crédit
(particuliers et entreprises).
Une telle structure ouvre également la possibilité de financer les stocks des concessionnaires.
Faute de licence bancaire pour opérer en Russie, et en raison des complexités bancaires, la majorité des constructeurs étrangers proposent des offres de financement via des
accords de partenariats avec des banques (Private Label).
Apres la mise en construction d'une usine d'assemblage en Russie, cette opération démontre la volonté du groupe Peugeot Citroën de rattraper le retard pris, et de se
positionner comme un des gros acteurs du marché automobile en Russie des prochaines années.
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Lundi 29 juin 2009
1
29
/06
/2009
20:54
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NEW YORK---Jun. 29, 2009-- American International
Group, Inc. (AIG) today announced that it has entered into an agreement to sell 98 percent of the shares in its consumer finance operations
in Russia, consisting of OOO AIG Bank (RUS), with an option, not exercisable until mid-March 2011, for the sale of the
remaining two percent, to Banque PSA Finance SA (a 100
percent- owned subsidiary of PSA Peugeot Citroën Group). The transaction is subject to the satisfaction of certain conditions, including approval by the Central Bank of Russia.
OOO AIG Bank (RUS) was established in June 2008 and currently employs a dozen employees. Terms of the transaction were not disclosed.
Deutsche Bank acted as financial advisor and Debevoise &
Plimpton served as legal counsel to AIG on this transaction. CMS in Russia served as legal counsel to Banque PSA Finance.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading
international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most
extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset
management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the
stock exchanges in Ireland and Tokyo.
Wholly-owned by Peugeot S.A., Banque PSA Finance provides financing for
sales of Peugeot and Citroën cars and light commercial vehicles in 24 countries. It supports the
brands' growth by offering retail and fleet customers a diversified range of financing solutions and related services, and by providing Peugeot and Citroën dealers with financing for new and used vehicles and replacement parts inventories.
Source: American International Group, Inc.
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Lundi 29 juin 2009
1
29
/06
/2009
05:35
A formal cooperation agreement between "Rusfinance Bank and Hyundai Motor CIS was signed. The first step is the creation of a new joint special
program "Hyundai", with an attractive interest rate for the clients. Rates are applied to loans on new cars of all Hyundai models, which are imported into Russia and sold through authorized
dealers of the manufacturer.
http://www.credits.ru/news/19396/
Samedi 18 avril 2009
6
18
/04
/2009
13:40
Toyota Bank started providing credits in RUR for purchasing Toyota Camry and Toyota Avensis produced in 2008. Moscow Credit Bank (MCB) changed conditions for
crediting new foreign cars.
Toyota Bank credit is given for three years with 16% annual interest; credit for five years is given with 17% annual interest. Commission for the credit is 6
thousand RUR. Minimal downpayment is 30% of the car price. The drawback of the program is commission (3% of the sum) for advanced repayment within six months after the credit is given.
Moscow Credit Bank (MKB) increased maximum credit for foreign cars purchase by four times - up to 4 million RUR. For crediting new premium-class cars pur-chase the
bank decreased minimal sum of credit down to 120 thousand RUR. Besides, now MCB doesn't demand full insurance for cars purchased on credit. However in this case annual interest rate will be at
least 2% higher - minimum 28% annually in RUR.
Mardi 10 mars 2009
2
10
/03
/2009
05:30
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Vedomosti reported on 9th March, citing VTB24’s management board member Georgiy Gorshkov, that the Ministry of Industry
and Trade has approved an auto loans interest rates subsidy programme.
The Ministry of Finance will earmark RUB2bn for 2009 subsidies, the budget will provide compensation for two thirds of the Central Bank of Russia refinancing rate, and the price of
domestically produced cars, covered under this programme, is to be below RUB350,000.
Subsidised loans will be granted via state-controlled banks, namely Sberbank and VTB24, and Rosselkhozbank may also participate.
According to Vedomosti, the duration of the loans should not be more than two years.
According to Gorshkov, the average interest rate for a VTB auto loan is currently between 21% and 24%, thus the borrower will have to pay an effective rate of 12.3% to
15.3%.
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