Sberbank Russia and the Agrokor concern announced the signing of a syndicated loan of 600 million euros. The Memorandum of Understanding was signed by Herman Gref, Chairman of the Management Board of Sberbank, and Ivica Todorić, Chairman of the Agrokor concern.
The Memorandum of Understanding will help the Agrokor concern, one of the leading private companies in the Central and Eastern European region, in refinancing its existing financial obligations and further developing the company. This loan indicates Sberbank's increased activity in the Central and Eastern European region, with Sberbank Russia participating with 500 million euros, while Sberbank Europe AG will finance 100 million euros of the loan.
This business arrangement will also include the launch of joint programs to better meet the financial needs of clients through innovation, new products and services, as well as digital solutions to improve the banking and consumer purchasing experience.
For 2014, the development of a Sberbank and Konzum card is planned as a joint consumer lending product offering innovative features and special benefits.
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