Commerzbank (Eurasia) increased documentary credit for Power Machines from 30 million USD to 50 million Euros.
Power Machines and Commerzbank (Eurasia) have a long cooperation history and a serious development potential. The bank provides credits and documents for a set of export contracts of the company and contracts for supplies of power equipment to the home market of the Russian Federation in the framework of RAO “UES of Russia” investment program.
The decision to increase the limit established by Commerzbank (Eurasia) for Power Machines was made due to the fast increase of stock of orders and expansion of production program of the company. The decision creates good conditions for further cooperation between the company and the bank.
Commerzbank (Eurasia), Moscow, is a branch of German Concern Commerzbank AG. The bank has been conducting operating activities in Russia since 1999. Commerzbank (Eurasia) is a universal commercial bank which provides comprehensive range of financial services to its clients. Commerzbank (Eurasia) maintains account relationship with more than 600 banks all over the world via Commerzbank AG. As of October 1, 2007, stockholders' equity of Commerzbank (Eurasia) amounted to 6,09 billion Rubles, assets exceeded 49,6 billion Rubles.