25 Mar 2011 14:23

Gazprombank foreign loans will not top $2 bln in 2011

MINSK. March 25 (Interfax) - Foreign loans by Gazprombank will not exceed $2 billion this year, the Russian bank's deputy chairman, Alexander Sobol, told the press on Friday in Minsk, where the annual Belgazprombank shareholders meeting its taking place.

"Foreign loans will not exceed two billion dollars in 2011," Sobol said.

Gazprombank has $300 million in Eurobonds coming due in June 2011.

Last year the bank borrowed twice on foreign markets, placing $1 billion in four-year Eurobonds and raising a three-year syndicated loan for $900 million.

Gazprombank was the third biggest Russian bank by assets according to the Interfax-100 list as of the end of 2010.