Roman Tkachenko on Bank Financing


The latest issue of CRE magazine includes an article on sources of financing for development projects under the current economic conditions. Roman Tkachenko, Head of the Representative Office of RD Group in Russia, shared his opinion with the publication.

Today real estate market participants are waiting for affordable bank financing to reappear. Roman Tkachenko, Head of the Representative Office of RD Group in Russia, spoke to CRE about under which conditions and in which currency credit should be taken.

“Due to the instability in the ruble exchange rate, banks find it much more advantageous to provide credit in foreign currency. However, this situation will change in the near future. In light of the announced recapitalization of banks through federal loan bonds, banks will receive ruble liquidity and the opportunity to provide credit in rubles,” Roman commented. “The rates offered will be no less than 20%. At the same time, banks will more carefully investigate the borrowers’ solubility and assets offered as collateral.”

According to Roman Tkachenko, in 2015 the commercial real estate market will see a new phase of redistribution of assets. “The inability of companies to fulfill their credit obligations could force players to default and forfeit their assets offered as collateral to banks,” the expert notes. “This will provide an opportunity for companies without a debt burden to acquire assets at more advantageous prices.”