Increase of RSI guarantee agreement of EIF with Bank Austria to 160 million euro
- Guarantee agreement to support lending to small and medium-sized enterprises (SMEs) under the Risk Sharing Instrument (RSI) prolonged to 2015 and increased from 120 to 160 million euro
- Thanks to the increase, Bank Austria can offer additional loans at attractive terms to innovative companies over the next two years, enabling entrepreneurs to gain easier access to finance
- Bank Austria is the only bank in Austria to directly offer RSI-backed loans
Due to the great success and high demand in Austria the European Investment Fund (EIF) and UniCredit Bank Austria have today signed the increase from 120 to 160 million Euro and prolongation of the guarantee agreement to support lending to small and medium-sized enterprises (SMEs) under the Risk Sharing Instrument (RSI), a joint initiative of the European Investment Bank Group and the European Commission.
Since end of 2012 Bank Austria is the only bank in Austria to directly offer RSI-backed loans. The RSI aims to encourage banks to provide loans and leases of between EUR 25,000 and EUR 7.5 million to SMEs and small mid-caps undertaking research, development or innovation, and seeking finance for investments and/or working capital.
Willibald Cernko, CEO UniCredit Bank Austria: "The success of this initiative proves impressively that there is no credit crunch in Austria. We are very pleased that the increase of the EIF-RSI-guarantee agreement enables us to make available loans with a total volume of EUR 160 million to innovative and research-oriented small and medium-sized enterprises and mid-corporates. Bank Austria is hereby offering additional financing opportunities for innovative companies, underlining its role as the leading provider of loans in Austria."
Helmut Bernkopf, the Bank Austria Management Board member with responsibility for retail and corporate customers: "SMEs benefit in two ways: they get additional collateral from the EIF at a very low price and they benefit from even more attractive terms as we fully pass on to our customers the guarantee-related cost advantages. We are the only bank in Austria which directly offers RSI loans and can provide financing on favourable terms and in a very efficient way."
Enquiries: Bank Austria Media Relations
Martin Kammerer, Tel. +43 (0) 50505 - 52803