On 15 May 2009, Oesterreichische Entwicklungsbank (Development Bank of Austria) and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) signed credit lines for a total of USD 20 million for the Russian Center-Invest Bank.
The investment strengthens the bank in times of the financial crisis. The funding is ear-marked for on-lending to local small and medium-sized businesses and therefore supports a very important sector for the region. OeEB's credit line amounts to USD 10 million.
Center-Invest Bank
Established in 1992, Center-Invest Bank is one of the leading private banks in southern Russia. The bank is catering to small and medium-sized businesses through a network of 130 branches. With a staff of about 1860 people Center-Invest is one of the largest employers in the region.