Another EUR 60 million of support to retail and corporate clients – EBRD and Intesa sign agreements on three new credit lines

(Draginja Djuric and Daniel Berg) The European Bank for Reconstruction and Development (EBRD) has signed agreements on three credit lines worth a total of EUR 60 million with Banca Intesa and Intesa Leasing. The funds are meant for financing the retail and real corporate sectors.

As stated in the bank's press release, the funds from the EUR 30 million credit line will be available through Banca Intesa to retail clients in the form of affordable housing loans, whereas the EUR 5 million credit line is meant for the continuation of the realization of the program of support to female entrepreneurship – Women in Business – within which the bank approves loans for financing working assets and investments to small and medium companies run by women.

A credit line of EUR 25 million through Intesa Leasing is meant for financing the procurement of commercial vehicles, equipment and investment property of small and medium companies.

– The successful cooperation with the EBRD has been enabling us for a number of years to strengthen our own credit potential and enable access to affordable long-term sources of finance to our clients in Serbia, both retail and corporate ones. Thanks to the credit lines signed today, we will continue stimulating the development of female entrepreneurship as an important resource of sustainable economic growth and increased employments, but also helping citizens invest in purchasing their own living space under more client-friendly conditions – stated Draginja Djuric, president of the Executive Board of Banca Intesa.

As part of the housing credit line, Banca Intesa approves loans insured at the National Mortgage Insurance Corporation (NMIC) with the repayment period of up to 15 years and the annual interest rate of 2.52% (effective interest rate 3.29%), as well as loans with repayment periods of 15 to 30 years and the annual interest rate of 2.58% (EIR 3.12%), the press release says.

Banca Intesa approves loans within the Women in Business program with the fixed annual interest rate of 5.5% (EIR 6.84%) in the maximum amount of EUR 500,000.

Credits for working assets have the maximum repayment period of 36 months, with a grace period of up to 6 months included in the repayment period, whereas loans for investments have a repayment period of 37 to 60 months and a grace period of up to 12 months included in the period over which the credit is approved. No security instruments in the form of mortgage are needed for loans with a repayment period of up to 36 months and investment loans up to EUR 25,000.