OREANDA-NEWS. October 22, 2009. Alfa-Bank has obtained a RUB29.3 bln subordinated loan from Vnesheconombank (VEB). Of this amount, RUB230 mln was granted with a required ratio of shareholder funding to state funding of 1:1,  and RUB29.1 bln at a new ratio of 1:3, reported the press-centre of Alfa-Bank.

Alfa-Bank is the first private Russian bank to obtain state support with this ratio. The loan matures in December 2020 and the interest rate is 9.5%  per annum. The funds will be counted as part of Alfa-Bank’s equity capital.

Andrei Sokolov, First Deputy Chairman of the bank’s Executive Board, said "This support from the state is an acknowledgment of Alfa-Bank’s position as a leader in the Russian financial market, a position it has maintained even in times of economic instability. Alfa-Bank’s shareholders have also supported the bank through the recent financial turmoil, investing an additional \\$690 mln in its equity capital over the last year. The funds received from VEB will be used to lend to the real sector".

Alfa-Bank had previously received a RUB10.2 bln loan from VEB in January 2009 with a ratio of shareholder funding to state funding of 1:1.