MOSCOW, October 5 (RIA Novosti) - Bank Saint Petersburg said Thursday it will take out a four-year loan worth $30 million from the European Bank of Reconstruction and Development to develop small and medium-size business crediting programs.
According to the bank's CEO, Alexander Savelyev, the agreement with the EBRD is also a regular stage of the bank strategy implementation aimed at reinforcing positions on Russian and international financial markets.
"Active operation of Bank Saint Petersburg on the international capital market is very important for our clients and partners," the head of the bank's supervisory board said.
Bank Saint Petersburg, founded in 1990, is among the top three banks in Russia's northwest, and is on the list of the 50-largest Russian banks. On July 1, 2006, the bank's total balance was 39.8 billion rubles ($1.5 billion), and its equity capital was 4.13 billion rubles ($154.3 million).
