Penza, 6 September 2013. PenzaNews. Bank guarantees in the amount of 2,6 billion rubles were issued by Penza branch of JSC Sberbank of Russia since the beginning of 2013.

“Over one billion rubles will be issued by January,” the manager of Penza branch of Sberbank Mikhail Kisel told news agency “PenzaNews.”

He noted that the institution is actively issuing guarantees to legal entities of the region providing customers with a full range of loan products.

According to official data, the number of bank guarantees issued by the Volga Federal District branch as a whole has grown since the beginning of 2013 by 30 %, while the number of customers using the service has increased by 1,5.

The press service of JSC Sberbank of Russia explained that a guarantee is a written obligation of the bank through which his client — a legal entity, an individual entrepreneur or a financial institution — can provide their counterpart confirmation of their ability to meet monetary obligations.

“Today the Volga Federal District branch of Sberbank provides guarantees of liability under the contract, advance re-payment, tender, and also in favor of customs or tax authorities, the Federal Service for Alcohol Market Regulation and a number of others. The most demanded are guarantees of liability under the contract. Their share is 70% among others. There is also growing demand for guarantees in favor of tax authorities. These obligations are issued for a total of 4 billion rubles, which is 2,3 times higher compared to the beginning of the year. Terms of this service depend on the type of guarantees,” the bank representative explained.

The press service added that, as of August 1, 2013, the amount of the guarantees issued by the Volga Federal District branch of Sberbank is 36,5 billion rubles, while the leaders of the District are the Samara and Astrakhan regions.

According to the director of department of development and maintenance of the corporate business of the Volga Federal District branch of Sberbank Natalia Sivakova, JSC Sberbank of Russia is included in the list of institutions which meet all the requirements for acceptance of bank guarantees.

“In addition, our guarantee obligations are now preferred for most beneficiaries. Judging by the number of customers constantly using this service, as well as the current trend, we can assume that by the end of the year the growth of the guarantees will continue. For example, at present around 70 transactions totaling 5 billion rubles are in process,” she noted.