CREDIT BANK OF MOSCOW’s equity up by RUB 1.5bln
02.09.2010
<p>25 August 2010 – CREDIT BANK OF MOSCOW’s equity was increased by RUB 1.5bln by means of a subordinated loan.</p> <p>The Bank of Russia (letter No 52-03-16/11597 dated 23.08.2010) acknowledged a 10 year loan (due in 2020) raised by CREDIT BANK OF MOSCOW as a subordinated debt to be treated in full as additional capital. The loan was granted by Wellcreek Corporation, the main shareholder of &quot;Rossium Concern&quot;, SLL. Rossium Concern is the sole shareholder of CREDIT BANK OF MOSCOW. This loan will augment the Bank&rsquo;s equity and secure a high level of capital adequacy for its further development.</p> <p>Upon inclusion of the subordinated loan in its additional capital, CREDIT BANK OF MOSCOW&rsquo;s equity rose by 7% compared to 01 August 2010 and exceeded RUB 15bln.</p> <p>It is worth reminding that this capital increase is the third in a row over the past 6 months. Two previous subordinated loans for RUB 1.5bln each raised from Wellcreek Corporation took place on 31 May and 30 June 2010.</p>