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CREDIT BANK OF MOSCOW raised US$20 million subordinated loan from BSTDB

13.09.2010

08 September 2010 – CREDIT BANK OF MOSCOW (CBM) raised US$20 million subordinated loan form Black Sea Trade and Development Bank (BSTDB). The loan has a 7-year maturity. Upon receipt of approval from the Central Bank, the raised funds will be included in the Bank’s additional capital. Cooperation between CBM and BSTDB goes back to 2008 when a US$20 million loan agreement was signed for CBM for the purposes of small and medium enterprises financing.