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Subsidized loans for the economy

Banca Intesa has started to receive loan applications for subsidized corporate loans, in accordance with the Ddecree of the government of the Republic of Serbia for mitigating negative effects of the global economic crisis in 2011. Within this program clients are able to apply for loans with subsidy interest for maintaining current liquidity, funding durable working assets and exports, investments and specific-purpose industry.

The maximum amount of the loan facilities for funding current liquidity and durable working assets for entrepreneurs will be RSD 3 million, and RSD 10 million for small companies (i.e. RSD 10 million for export operations or RSD 10 million with the currency clause). As for middle-size companies the maximum amount of the same loan type is RSD 80 million (i.e. RSD 200 million for export operations or RSD 200 million with the currency clause), and for RSD 300 million for large companies (i.e. RSD 800 million for export operations or RSD 800 million with the currency clause). Loans will be granted for the period of 12 months, according to the interest rate at the level of repo rate, i.e. 4,4 percent annually for loans intended for exports with the currency clause.

Interest rate for the investment loans is 4 percent plus 3-month euribor at annual level with the currency clause applied. As for investment loans secured with the guarantee from the Development Fund of the Republic of Serbia, interest will be 2 percent i.e. plus 3-month euribora annually.

The Decree referring to consumer loans and loans for legal entities for the acquisition of durable consumer goods and services in 2011, Banca Intesa will approve corporate loans for the purchase of busses, construction machines and trucks from domestic manufacturers, for the period of seven years applying the currency clause and 4,5 interest rate annually.

Right from the beginning of the Program for mitigating effects of the global economic crisis in 2009, Banca Intesa was the most active business Bank in the field of granting subsidized loans. During 2010, Banca Intesa placed to the sector of economy more than EUR 340 million, which is quarter of total subsidized placements granted to industry by banking sector.