OREANDA-NEWS. December 28, 2012. CJSC Russian Standard Bank has secured a one-year, RUB 4 bln syndicated loan with a possible extension of up to two years.

The funds will be used for the further development of the bank’s retail lending business, in particular for the credit cards and personal loans business.

The organizers of the deal were OJSC VTB Bank, CJSC Raiffeisenbank, Sberbank CIB and OJSC Sviaz-Bank. The agent for the deal was OJSC VTB Bank.

“The securing of this loan is a milestone event for Russian Standard Bank. We are pleased that Sberbank took part in this deal,” commented Alexander Dementyev, Head of the Financial Institutions Division of Sberbank CIB. “This was a good opportunity for our bank to put to use its extensive experience in organizing syndicates, while at the same time expanding our product line for financial institutions.”

“We expect to increase our presence in the inter-bank lending market, in part on account of new complex deals which meet the requirement of today’s market,” added Fedor Sapronov, Head of the Loan & Project Finance Division of the Department of Corporate Clients of Sberbank CIB.