8 August 2012
Bank Vozrozhdenie took
“Subordinated loan is an important step for the bank’s development, especially considering the instability of the global financial markets. In the recent years we did not apply to external financing, and capital growth was provided solely by profit generation. Now, in the environment of healthy loan demand and rapid development of retail business we decided to support our capital base, — commented Andrey Shalimov, Deputy Chairman of the Management Board, — Attraction of subordinated funds will give us an opportunity to ensure loan portfolio growth rates within the announced guidance of
Bank Vozrozhdenie obtained the first tranche of subordination in July, the remainder is planned to be granted by the end of the year. Strengthening the capital base will afford the bank to support business expansion and reinforce positions on its key markets: in lending to small and medium enterprises and mortgages.