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Russia's TransCreditBank to get $36 mln loan from VEB

MOSCOW, December 15 (RIA Novosti) - TransCreditBank, one of Russia's top 30 banking institutions, will receive a 1 billion ruble ($36 million) subordinated loan from the national development bank, Vnesheconombank, a source at TransCreditBank said on Monday.

TransCreditBank also wants to file another application with VEB to receive a loan of 2 billion rubles ($72 million) and will have to raise its equity or charter capital by the similar amount to qualify for the loan, the source said.

The Russian government has granted Vnesheconombank (VEB) $50 billion for subordinated loans to refinance the foreign liabilities of domestic companies and banks.

Vnesheconombank is granting the loans at 8% per annum for terms until 2019.

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