OREANDA-NEWS. June 24, 2009. Bank ZENIT, one of the leading Russian private banks, and the Black Sea Trade and Development Bank signed a 7-year USD20 mn subordinated loan agreement. The loan will strengthen the capital adequacy of Bank ZENIT by providing long-term liquidity and increase its capacity to expand lending to its clients, reported the press-centre of ZENIT.

Commenting on the agreement, Elena Gornaya, Deputy Chairman of the Management Board of Bank ZENIT mentioned: "Bank ZENIT is a client of the Black Sea Trade and Development Bank since February, 2008. We are pleased to acknowledge the mutually beneficial nature of our partnership and welcome its development".

"We are glad to support Bank ZENIT to sustain its business in this very uncertain situation", stated Andrey Kondakov, BSTDB Vice-President Banking signing the loan agreement.