| 03.11.2009 - RBC
|
Vnesheconombank extends loan to Gazprombank
|
|
Gazprombank has secured a subordinated loan from Vnesheconombank worth RUB 74.3bn (approx. USD 2.55bn) as part of the government's measures aimed at increasing the capitalization of the Russian banking system. According to the lending institution's press office, the subordination was made possible thanks to the support of the group's main shareholders, who had earlier extended subordinated loans for a total of RUB 25bn (approx. USD 856m) to be paid back in 30 years. Meanwhile, Gazprombank took out the loan from Vnesheconombank for over 10 years.
The bank's capital is estimated at RUB 238bn (approx. USD 8.15bn) as of November 1, after skyrocketing 77 percent since the end of 2008.
"The increase in capital will be used to further boost the amount of loans extended to Russia's real economy sector," deputy chairman of the bank's executive board Alexander Sobol stated.
|
Issuer profile:
Gazprombank has been successfully operating in the banking market since 1990. Founded by the world's largest gas producer and exporter Gazprom to provide banking services for gas industry enterprises, since then Gazprombank has become one of the leaders of the banking sector, which key performance indicators place the Bank among the top three banks of Russia.
Gazprombank as a universal financial institution delivers a wide range of banking and investment services covering over 45,000 corporate and about 3 million private clients.
Gazprombank invests and lends to companies of major sectors of the economy – oil and petrochemical industry, metallurgy, machine building, nuclear industry, electric power industry, real estate construction, transport, telecommunications and trade. Diversified client base enables a strong growth of a corporate loan portfolio and the retail business also shows sustainable growth. Despite of a rapid growth of the loan portfolio, efficient risk policy and prudent approach to borrowers allow the Bank to maintain a ratio of problem and non-performing loans at the lowest level among the largest Russian banks.
Gazprombank actively develops areas closely related to the investment business. Besides strategic investments to oil-and-gas, petrochemical industries, and media-business, in Russia Gazprombank occupies leading positions in transactions in the capital markets (bonds underwriting, arranging financing for clients), corporate finance advisory and project finance.
At present, Gazprombank operates 8 subsidiary and affiliated banks in Russia, Belarus, Switzerland and Armenia, representative offices in China and Mongolia, and also 43 own branches across Russia from Kaliningrad in the west to Youzhno-Sakhalinsk in the east. The total number of offices delivering customer friendly high-quality banking and depository services under the single brand name of Gazprombank exceeds 500.
Steady development and high reliability was rewarded with ratings assigned by international rating agencies: Moody’s Investors Service, Standard & Poor’s etc.
Gazprombank was twice awarded by The Banker Magazine as “The Bank of the Year in Russia” in 2001 and 2005.
Outstanding issues:
8 issue(s) outstanding worth RUR 105 000 000 000
4 issue(s) outstanding worth USD 2 620 000 000
1 issue(s) outstanding worth CHF 420 000 000
|
|
