VTB and ZAO International Moscow Bank acted as arranges of a RUR 330 mln syndicated loan for ZAO AKB NOVIKOMBANK. VTB was also a credit agent.
The loan was granted at 9.80% annual rate to mature in 6 months, and under the loan agreement it can be extended for a similar period.
Alongside the arrangers, among the syndication members were JSC Russian Bank for Development and OJSC Bank ZENIT.
ZAO AKB NOVIKOMBANK was established in 1993. It is focused on large corporate customers services, including strategic enterprises with state participation, and also actively develops operations in the money and stock markets.
According to 2006 results, ZAO AKB NOVIKOMBANK is ranked 69th in terms of net assets and 40th in terms of profitability.