LOCKO-Bank & SME Bank Develop SME Business Support Cooperation

LOCKO-Bank has got from SME Bank RUB 200 mln. to develop SME lending business projects. The banks have been partners since 2008: they signed 18 loan agreements, the total volume of more than RUB 5.5 bn. The financing was provided for 5 years to support projects in innovation, modernization and energy efficiency, as well as to develop non-trade sector.

SME lending is one of the key business developments of LOCKO-Bank. The bank increased SME lending in 2013, up 37.1% compared to 2012 according to RAS. Amount of loans provided for individual entrepreneurs and companies was RUB 85.3 bn. SME Business demonstrated 9% growth of active clients in 1H2014.