MOSCOW, June 20 (RIA Novosti) - Promsvyazbank has taken a $30 million subordinated loan from Kapital Investment Group for five and a half years, the bank said Tuesday.
"The bank will use the money to consolidate its capital base and thereby maintain asset growth, first of all, by increasing private loans and expanding its corporate business," the bank said in a news release.
On April 1, the equity capital of Promsvyazbank, one of Russia's top thirty banks, was 11.4 billion rubles ($421 million), while its assets totaled 124.6 billion rubles ($4.6 billion).
The bank said the loan had been registered with the Central Bank as second level capital, or as part of equity capital.
