OREANDA-NEWS. December 16, 2010. Raiffeisenbank and Rosbank have opened Home Credit and Finance Bank "Christmas facility" credit lines totaling 2.1 billion roubles. The funds will be used during the New Year holidays to meet the increased seasonal demand for the retail loan products of Home Credit and Finance Bank, reported the press-centre of HCFB.

The open unsecured credit lines provided to Home Credit and Finance Bank are worth 2.1 billion roubles, and have a 6 month term. The loan rate is tied to the monthly MosPrime rate.

"We are pleased to be working together with our partners on a long-term and mutually beneficial basis. We will make every effort to continue developing this partnership in a sound manner," said Ivan Svitek, the Chairman and CEO of HCFB.

"Currently, inter-bank lending is one of the most popular types of debt financing, and Raiffeisenbank is continuing to systematically increase its presence in this market. Each credit line which we open has a customized set of terms and conditions. We have been working with HCFB Bank for more than 10 years and our partnership is very productive and important to us," said Sergey Monin, the Deputy Chairman of the Board, the Head of the Treasury Directorate, and a board member of Raiffeisenbank.