EBRD increases facility limit on trade financing to Credit Bank of Moscow by 50% to $67 mln
MOSCOW. Oct 13 (Interfax) - The European Bank for Reconstruction and Development (EBRD) has increased a loan facility limit to Credit Bank of Moscow by 50% to $67 million in the framework of a trade financing program, the Russian bank said in a statement.
The agreement on the program was signed in 2005. The facility limit for financing export and import operations was recently increased by 350% from $15 million to $67 million.
Credit Bank of Moscow was 35th largest bank in Russia by assets at the end of the first half of 2010 according to the Interfax-100, compiled by the Interfax Center for Economic Analysts. According to the rating, the bank boosted its net assets by 32% to 113.4 billion rubles in the first half while net lending to the non-banking sector increased by 42% to 82.4 billion rubles.