OREANDA-NEWS. Bank Petrocommerce was made two subordinated loans totaling USD 303.030 mln (which equals RUB 10 bln) by a company being a part of IFD Kapital Group. Both loans mature in December 2043. The Central Bank of Russia has confirmed that the loans meet essential requirements and can be included in the additional and tier 1 capital. Thus, starting from 01 January 2014, Bank Petrocommerce's capital will comprise RUB 33 bln.

“The borrowed funds will assure a comfortable capital level for the Bank to continue its business development. Besides, partially they will be directed into provisions for impairment of loans and advances, - says Chief Executive Director of Bank Petrocommerce Vladimir Rykunov. - The subordinated loan and following increase of provisions were preliminary agreed upon by the current and future shareholders in the context of Bank Petrocommerce's integration into Financial Corporation OTKRYTIE, which was announced this Autumn.”