OREANDA-NEWS. December 14, 2009. In the 4th quarter the Central Bank of the Russian Federation officially confirmed the fact that LLS “BTA Bank” received long-term loans from a number of companies, among others, from Russian participants of the Bank. According to the conclusion of the Bank of Russia, the loans received by LLS “BTA Bank” are recognized as subordinated and these funds may be included into the list of sources of the Bank’s additional capital, reported the press-centre of BTA Bank.

Its Russian participants such as Project & Construction Company AMK INVEST LLC, RIKAS FINANCE LLC, TuranAlem Capital LLC and DeltaTorg LLC, as well as a foreign company  PILOT HOLDINGS LIMITED became lenders  of the Bank. The total of the funds granted to the Bank is RUB 1.8 bln. 

“The support given to the Bank is a regular evidence of that we consider LLS “BTA Bank” as a successful financial institution, which has a considerable potential for further development – said a representative of Russian participants of LLS “BTA Bank”. – Additional capitalization lets the Bank maintain its capital adequacy at the level, which substantially exceeds both the average market and the Bank of Russia’s requirements. 

“We are really grateful to our Russian participants for this considerable support - says Chairman of the Board of BTA Bank Ms. Elena Messerle. – The loans granted are not only long money to us, but also the possibility to form additional capital. This is, first of all, the evidence of that the majority of participants of LLS “BTA Bank” share our view of the Bank’s development and are satisfied with the efforts of its management team”.

The adoption of the decision to obtain subordinated loans is one of the parts of the bank’s business development model, which, among other things, suggests gradual replacement of financial instruments granted by the Bank of Russia, with the funds received both from the Bank’s participants and customers – legal entities and individuals, as well as from financial institutions. The business model sets the principles of development of the Bank as an independent player in the market (before early 2009 the Bank was a member of the BTA Group, but this year started realization of independent development programmes).

As it was earlier informed, the suggested business model was approved by the Board of Directors of the Central Bank of the Russian Federation, which facilitated execution of the agreement for extension of loan agreements under the Bank of Russia’s unsecured loans.