OREANDA-NEWS. November 19, 2008. Probusinessbank has placed ordinary shares in favor of East Capital Financial Institutions Fund AB. The share issue had earlier been registered with the Central Bank of the Russian Federation on September 15, 2008. The issue amounts to RUR 375 million, reported the press-centre of Probusinessbank.

At the same time, Еast Capital provided a RUR 625 million subordinated loan to Probusinessbank for 5 years.

Sergey Leontiev, President of Probusinessbank:
"East Capital is a reliable long-term partner of the Group “Life”, which supports the implementation of the Group’s strategy, focused on the expansion of key business areas: retail business, SME and corporate banking. By its decision East Capital reaffirmed its interest in further cooperation and trust in the successful implementation of our strategy".

According to Jyrki Talvitie, head of the Moscow representative office of East Capital, the company is satisfied with the development rates of Probusinessbank, which take place in the context of instability across financial markets. "Current indicators of the Bank’s performance confirm its stable position even in the situation of financial crisis. Therefore, we made a strategic decision to increase the share of East Capital in its capital, which will certainly support the further progressive growth of Probusinessbank", - said Jyrki Talvitie.