OREANDA-NEWS. October 15, 2008. Locko Bank announced its intentions to partially repurchase via a number of open market and/or private trades the RUR 3 billion 10.50 per cent. Loan Participation Notes due July 2009 issued by Locko Finance Plc for the sole purpose of funding a loan to Locko Bank, reported the press-centre of Locko Bank.

This initiative is primarily aimed at maintaining liquidity for the issue and demonstrating the Bank’s investor-friendly position.

The prudent liquidity management in the current volatile markets is illustrated by the capital adequacy ratio (Basel) of 19.3% as of 30 June 2008, and a comfortably high liquidity position with liquid assets comprising over 18% of total assets as at 7 October 2008.

Despite the ongoing financial crisis Locko Bank continues its strategic development with a particular focus on the SME segment.

Besides the outstanding US35 million syndicated loan due in December 2008, there will be no other wholesale repayments due within the next 8 months. The Bank intends to attract long-term financing from international development institutions for a total amount exceeding US60 million.