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PJSC “Ukrsotsbank”, UniCredit Bank™: Documentary operations as an alternative to corporate sector crediting

16.07.2013

How documentary operations become real alternative to lending – explained Viktoria Denisova, acting Head of Northern Macroregion, Head of Corporate Business Department in PJSC “Ukrsotsbank”, UniCredit Bank™.

One of the competitive advantages of international banks in their work with corporate clients is a wide range of offered instruments for financing, including documentary letters of credit, guarantees, operations with bills.

For example, PJSC “Ukrsotsbank”, UniCredit Bank™, benefitting bank’s solid experience in documentary business and international experience of UniCredit, offers its corporate clients alternative instruments of financing floating capital and structured schemes using documentary instruments for financing the purchase of equipment in the part of investment projects realization.

For financing the supplies of raw materials, the bank offers using credit lines, in the frames of which cash tranches as well as letters of credit, guarantees, bills are issued. Such alternative instruments let significantly decrease the price of financing. For example, in comparison to average market price for UAH resource amounting to 20% per annum, the price for documentary instruments will remain at the level of 4-5% per annum. Almost in all the cases the suppliers at the internal market accept direct instruments of PJSC “Ukrsotsbank”, UniCredit Bank™, as they take into account bank’s membership of UniCredit. PJSC “Ukrsotsbank”, UniCredit Bank™, may offer foreign suppliers, confused by the low rating of the state, documentary instruments of both banks of the group and other banks.

Moreover the bank renders its clients consultation services at the stage of negotiations with suppliers in order to take into account all the interests of the client and to get maximally comfort terms of supply agreement.

One of bank’s partners – dynamically developing company, one of the leaders in its sector – company “Spectr Agro” have been actively using documentary instruments for 2 years, which let it significantly balance the price of financing and to prevent possible problems with UAH liquidity deficit, which cycle in banking system as usual in the second half year. At the time when the majority of Ukrainian banks suspended issues to the new and sometimes existing clients in the moments of liquidity deficit, PJSC “Ukrsotsbank”, UniCredit Bank™, offered alternative instruments of financing and helped clients to solve settlements with suppliers via letters of credit, guarantees, bills instead of cash tranches in UAH.

Company “Spectr Agro” has been bank’s client since 2011 with initial limit of financing amounting to UAH 100 million, together with that in 2012 not less than 50% of the limit was used by the company as bill and guarantee operations. In 2013 there was signed a limit of financing for UAH 125 million with the group of companies “Spectr”, in the frames of which the bank also issues letters of credit for settlements with foreign suppliers.

In her turn the financial director of the company, Marina Melnichenko, notes: "During two years PJSC “Ukrsotsbank”, UniCredit Bank™, has been a reliable partner for our company and has been actively financing us. Thanks to the high level of banks’ specialists our company may get a cash tranche, guarantee, bill, letter of credit for our suppliers in a short time. Such banking instruments as guarantee and bill let our company not only benefit from the price of financing but get additional discounts from suppliers. We are grateful to the bank and Viktoria’s team for the cooperation and assistance and we hope that the increase of our limit will constantly grow".

Many companies are now renewing main funds, including exchange of production equipment, and despite tough economic situation, there are companies, which plan and fulfill expansion of production assets and construction of additional production fields. PJSC “Ukrsotsbank”, UniCredit Bank™, considers and supports such projects using European banking experience and rendering clients long-term financing for 5-7 years.

Namely, the issue of purchasing new equipment from foreign suppliers is solved by the bank via cooperation with such suppliers and banks of UniCredit in Europe and other states. Together with that individual schemes of financing are developed basing on banks cooperation inside UniCredit. As a result the client gets professional consultations from the bank under the terms of supply in the agreements and a scheme of financing with individual financial instruments.

For example, company “Biopharma”, one of the leaders of pharmaceutical industry, received a financial instrument from the bank (for 6 years term) in the frames of investment project realization, under which a letter of credit issued by PJSC “Ukrsotsbank”, UniCredit Bank™, was used for settlements for equipment in front of Italian suppliers. Under this instrument UniCredit Italy rendered financing to the suppliers. Together with that for the client it is an operation like trade loan, paid by the company in 6-months tranches. Efficient rate of such financing for the client amounted to less than 8% with all the commissions.

So, reputation and access to international experience of UniCredit, trust to the brand, creative and professional approach of bank’s team to the solution of financing issues together with cross functional specter of banking products and services are the engines for the development of PJSC “Ukrsotsbank”, UniCredit Bank™, for today.

Source: RBK-Ukraine

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