17 Feb 2010 14:57

VEB requires ownership of 25%-50% in capital of Postal Bank from potential bank partner

MOSCOW. Feb 17 (Interfax) - Vnesheconombank (VEB) announced that it has started accepting applications from banks about their interest in being a partner in the formation of a Postal Bank of Russia through OJSC Svyaz-Bank and Russia Post, VEB said in statement.

Among the requires set by VEB for participating in the project is the readiness of a bank partner to own no less than 25% and no more than 50% in Postal Bank's capital (including the buyout of an additional share issue and supporting its stake in the capital).

In addition, the bank partner should have a satisfactory finance position (Central Bank order N 337-P dated 19.06.2009), a international credit rating no low than