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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Sberbank of Russia    SBER   RU0009029540

SBERBANK OF RUSSIA

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Sberbank of Russia : issues RUB2.3 bln loan for housing estate construction in Leningrad Region

10/23/2020 | 09:05am EST

Sberbank and Lenrusstroy Group have signed a residential housing construction deal which will see the bank finance the construction of a new apartment building that'll be part of the New Gorelovo housing estate in Leningrad Region, Russia. The lending term is 36 months.

Vladimir Sitnov, Senior Vice President, Sberbank:

'This is not the first deal between Sberbank and Lenrusstroy Group. Taking into account the RUB2.3 bln financing of the new project, the total portfolio of the group at Sberbank is RUB6.7 bln. It is important to mention that in the new deal, Sberbank also acts as a mediator providing the government's economic support measures as the financing is part of the concessional lending program run by the Ministry of Economic Development. We are pleased to continue our fruitful partnership with Lenrusstroy and we hope that together we will be able to implement more than one residential real estate project down the road.'

The New Gorelovo housing estate is a big and new residential neighborhood on the southern border between St. Petersburg and Leningrad Region. It's being constructed through escrow-assisted project finance provided by Sberbank. The total floor area of the project is 446,000 m2. The building has an outdoor parking lot with a kindergarten and a school nearby. Also, Lenrusstroy Group has seen to the construction of a fire depot that'll be servicing the new quarter.

Disclaimer

Sberbank of Russia published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 13:04:00 UTC


© Publicnow 2020
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Sales 2020 2 164 B 28 853 M 28 853 M
Net income 2020 674 B 8 981 M 8 981 M
Net Debt 2020 - - -
P/E ratio 2020 8,24x
Yield 2020 5,99%
Capitalization 5 694 B 75 623 M 75 911 M
Capi. / Sales 2020 2,63x
Capi. / Sales 2021 2,44x
Nbr of Employees 276 598
Free-Float 45,1%
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