11.01.2010

The Bank Entered into the Agreement with the Russian Bank for Development

Bank Saint Petersburg and Russian Bank for Development (RBD) have signed an agreement on joint implementation of the Government SME Lending Support Program. RBD will extend a loan to the Bank in the amount of RUR 300 million.

The agreement provides that Bank Saint Petersburg will utilize these funds for lending to small and medium enterprises of Saint Petersburg for the tenor of up to three years at 15% p.a. The Bank has been already taking applications from the enterprises which wish to receive financing under this program.