18.06.2007

Chairman Alexander Savelyev holds 29.99% shares in Bank "Saint Petersburg"

Chairman of Bank “Saint Petersburg” Alexander Savelyev increased his interest to 29.99%.

“In the last year Bank Saint Petersburg made a scaled entry to the global debt market,” Chairman Alexander Savelyev says. “The Bank carried out a debut issue of Eurobonds and took a syndicated loan and a loan from EBRD. In the current year Moody’s has raised the Bank’s rating to Ba3/NP. We have signed an agreement with the Northern Investment Bank for a long-term credit line. We plan to hold an IPO as well as develop further our cooperation with the international financial institutions. The changes in the Bank’s share capital structure have been caused by the necessity to increase its transparency and meet the recommendations of the foreign partners and international rating agencies.”