24 Aug 2009 11:52

Bank Saint Petersburg to bolster equity with 1.5-bln ruble VEB loan

MOSCOW. Aug 24 (Interfax) - Bank Saint-Petersburg has received a subordinated loan of 1.466 billion rubles from Vnesheconombank (VEB), which it will use to bolster its equity, the bank said in a press release.

Earlier reports said the bank was planning to submit a third request for 2.2 billion rubles in subordinated credit from VEB. It asked for 1.466 billion rubles back in May and then filed a second request, which the VEB supervisory board has not yet considered, for 1.7 billion rubles.

The bank was Russia's 15th largest by assets, according to the Interfax-100 ranking at the end of the first half of 2009.