Credit Agricole experts addressed agribusiness finance and machinery leasing in the framework of Financial Club round table

On 16 March, the Deputy Board Member of the bank Alexandre Tchesnakoff and the Head of Leasing Division Yurii Vasylenko took part in the round table “Lending to Agrosector: Business Finance Products Offered by Banks” arranged by the “Financial Club” information agency. The event was held online and gathered representatives of eight banks actively involved in the development of agribusiness financing in the Ukrainian market.  

The experts of Credit Agricole Bank noted that compared to other industries, agrarians were the least affected by the adverse impact of the confinement restrictions. The pandemic did not influence the demand of agrarian producers for lending products either, and the bank did not interrupt lending to the industry.

“Despite the weather conditions that, to some extent, deteriorated the quality and volume of the past year yield, the prices increased as Ukraine was not the only country that faced the yield problems. As a result, the year was good for the majority of our agro customers”, Аlexandre Tchesnakoff, the Deputy Board Member of Credit Agricole Bank, tells. 

The government program “Affordable loans 5-7-9%” proved to be very efficient in supporting agrarian companies. Alexandre Tchesnakoff mentioned that the share of such loans for agro customers constitutes about 70% of Credit Agricole’s portfolio.     

In the course of the round table, the experts of Credit Agricole also noted that interest and confidence of customers in leasing is growing, and specifically outlined its opportunities and advantages for agrarian companies.  

“Thanks to leasing, customers get the machinery at the best price as the bank immediately pays the full cost of the asset and can arrange the discount from the supplier. Moreover, we have well-established partnership relations with leading insurance companies, which allows us to offer better insurance tariffs to our clients. Of course, the advantages of leasing are not only in its cost. It assures the customers that they will not be left alone in case of any force majeure. For example, should there be a disputable case, the bank being an important partner to insurance companies can always initiate a compromise payment. A tax seizure or an encumbrance by any third parties cannot be imposed on lease items since such assets are owned by the bank. Awareness and confidence of customers are increasing, and therefore, we expect market growth by 10-20% this year”, Yurii Vasylenko, the Head of Leasing Division of Credit Agricole Bank, tells.  

Learn more about the round table and watch the video of the event here:  https://finclub.net/ua/projects/kruglye-stoly/kredytuvannia-ahrosektoru-iaki-produkty-finansuvannia-biznesu-banky-proponuiut-kliientam.html

About Credit Agricole:

JSC «CREDIT AGRICOLE BANK» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bancassurance and third - in project financing in Europe. Credit Agricole has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including Premium clients, and business. The Bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of CREDIT AGRICOLE in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 280 000 active private and 17 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business. Credit Agricole Bank is a socially responsible bank that confirms its status by the large number of projects implemented under the Corporate Social Responsibility Program “We Care!”. 

Contacts:

Viktoriia Torianyk, head of public relations and internal communications at credit Agricole Bank 

Email: Viktoriia.TORIANYK@credit-agricole.ua