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Rosselkhozbank reduces loan interest rates for small businesses

12:20 | 01.06.2016 | Economy

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Penza, 1 June 2016. PenzaNews. Rosselkhozbank once again reduced the loan interest rates for small and medium enterprises in the Penza region on Wednesday, June 1.

Rosselkhozbank reduces loan interest rates for small businesses

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The loan rates were reduced by an average of 0.5 percentage points, depending on type of produced goods and borrower’s category, the bank’s press service informed PenzaNews. The recent changes bring down the loan interest rates by over 2 percentage points since the beginning of 2016, while family-owned farms are now able to get loans at 4 percentage points lower.

According to Irina Zhachkina, deputy board chairman of Rosselkhozbank, the banking institution gradually works towards making loans easily affordable for small and micro businesses.

“This is the sixth time we are reducing loan rates this year. We plan to issue at least 170 billion rubles of loans during 2016, including 36 billion rubles for season works,” she clarified.

According to official information, Rosselkhozbank already issued around 65 billion rubles of loans to small and micro businesses in various fields since the beginning of 2016, which is 41% more year-to-year.

Rosselkhozbank is the foundation of the Russian national credit and financial service system for the national agrarian business.

The bank, founded in 2000, is currently the key creditor in the Russian agricultural field. It is one of the largest and most stable Russian banks in regards to volume of active assets and capital stock, and among the leaders of reliability rating for the largest national banks.

The bank shares are 100% owned by the state.

General Banking License No. 3349, issued by the Bank of Russia on 12 August 2015.

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