OREANDA-NEWS. October 3, 2011. In accordance with the Loan Agreement concluded between the Bank and the Deposit Insurance Agency, the Bank of Moscow has received a loan of 294 811 000 000.00 RUR for a term of 10 years.

President and Chairman of the Management Board of the Bank of Moscow M.V. Kuzovlev:

"The Bank of Moscow is consistently fulfilling the conditions of the general agreement on provision of financial support to the Bank.

Our next step, according to the agreement, will be to acquire federal bonds (OFZ) and LLC VTB Pension Administrator will provide the Bank of Moscow with additional capital of about 100 bln RUR.

These measures will suffice for stable operation and development of the Bank. Over the next few months, the Bank of Moscow will present its development strategy. We plan to become a fully-fledged member of the VTB Group. We intend to occupy leading positions in the small and medium-sized business segment and the timely provision of state support to the Bank will make this possible."