The Deposit Insurance Agency (DIA) entered into a subordinated loan agreement with Credit Bank of Moscow, and also signed an agreement as to monitor the lending institution's performance, DIA's PR department reported.
The bank was provided with federal loan bonds (OFZs) of five issues (No. 29006RMFS, No. 29007RMFS, No. 29008RMFS, No. 29009RMFS, and No. 29010RMFS) with total par value of Rub 6.31 bln. The bonds will be repaid on January 22, 2025, February 24, 2027, September 26, 2029, April 28, 2032 and November 29, 2034.
Annual interest rates on the bank's subordinated loans are equal to coupon rates on relevant issues of OFZs plus 1%.
To date, as part of the capital injection program federal loan bonds worth Rub 728.6 bln have been given to 20 banks, DIA said in a press release. As posted on the agency's website, apart from Moscow Industrial Bank, these banks include MTS Bank, Rosselkhozbank, Rossiyskiy Capital, Bank Vozrozhdenie, MDM Bank, Svyaz-Bank, Bank Saint Petersburg, Bank Zenit, B&N Bank, Gazprombank, Promsvyazbank, VTB Bank, Absolut Bank, Novicombank, Credit Bank of Moscow, Bank Ak Bars, Bank FC Otkritie, Bank Petrocommerce (it was folded into Bank Otkritie – Banki.ru note), and Sovcombank.
