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Russian Standard bank secures $96 mln syndicated loan

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MOSCOW, November 30 (RIA Novosti) - Russian Standard Bank said Wednesday that it had secured a $95.7 million syndicated loan to develop its own lending business.

"The deal is the largest syndicated ruble-denominated loan on the Russian market so far," the bank said in a press release.

The loan has a term of one year and an interest rate of 8.5%.

The syndicate includes six banks: International Moscow Bank, Dresdner Bank, ING Bank N.V., Gazprombank, Reiffeisenbank, and Khanty-Mansi Bank.

Founded in 1999, Russian Standard is a leading provider of loans for private individuals. In the year's first nine months, its assets reached $2.3 billion, and its own capital came to $302.8 million.

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