SKB-Bank Lands 3 Contracts with Novosibirsk Oblast

UrBC, Yekaterinburg, December 26, 2017. SKB-Bank signed three government contracts with Novosibirsk Oblast, promising to provide RUR 500m in credit lines on each contract within three to four years’ time, the bank’s press service reports.

According to Novosibirsk Oblast’s Finance Ministry, the interest rates were set at 10,43% to 11.21% a year. The funds will be directed to offsetting temporary cash shortages and to paying off current debts in compliance with Novosibirsk Oblast Budget Act.

‘It is delightful to have a sovereign-rating borrower on our loan book now. We hope to keep on collaborating with Novosibirsk Oblast in the field of salary accounts, settlement services, and so on,’ says SKB-Bank’s Deputy Chair of the Board Margarita Burbik.

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