Ural Bank for Reconstruction and Development is optimistic about external loans

29 November 2007 (09:19)

Russia has gone through the recent global crisis successfully, the World Bank declared a couple of days ago. The country is enjoying stability, which can be proved by the fact that the net influx of capital to Russia reached $10bn in October 2007.

According to the World Bank, Russia’s banking sector received as much as $37.6bn in terms of net influx of capital in January-September 2007, with $700m received in the third quarter of the year (compared with $15.7bn in July-August 2006), the Ural Bank for Reconstruction and Development’s press officer reports.

Then, even though the volume of Russian banks’ foreign loans has gone down, the international interbank market crisis never affected the Ural Bank for Reconstruction and Development, whose sources were well diversified.

‘The bank uses some large international bank’s credit facilities as one of the ways to support the customers’ operations, so we never had to stop offering loans thanks to sufficient backup funds,’ the bank’s Strategic Planning Director Andrei Emelyanov said.

'We are optimistic about external loans, as it will only be good to use the investment supply once the investors have got over the initial shock,’ he added.

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