OREANDA-NEWS. November 17, 2009. Gazprombank has attracted a subordinated deposit of RUR 74.3 bln from Vnesheconombank within the framework of the Government program to increase capitalization of the Russian banking system (3 to 1 ratio). Placement of the deposit was subject to prior support of Gazprombank’s main shareholders who had previously provided subordinated deposit of RUR 25 bln for a term of 30 years.

The term of the subordinated deposit of Vnesheconombank exceeds 10 years. As of November 1st 2009, Gazprombank’s equity amounted to RUR 238 bln showing a 77% growth compared to the end of 2008.

Alexander Sobol, Deputy Chairman of the Management Board of GPB pointed out that “The increase in capital will be utilized by Gazprombank for continued growth of the volume of loans provided to the real sector of the Russian economy”.