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VTB overseas subsidiary Moscow Narodny Bank raises $200mln loan

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MOSCOW, June 15 (RIA Novosti) - Moscow Narodny Bank Ltd., an overseas subsidiary of Vneshtorgbank (VTB) in the United Kingdom, has raised a $200 million syndicated loan, the VTB press office said Thursday.

The loan was syndicated by Bankgesellschaft Berlin (BGB), Bayerische Hypo- und Vereinsbank AG (HVB), HSH Nordbank AG (HSH) and Natexis Banques Populaires (Natexis).

"The loan has been disbursed for a term of 1.5 years at LIBOR + 0.35% per annum," Vneshtorgbank said in a statement.

The loan's initial amount was doubled to $200 million due to investors' increased interest, the state-run foreign trade bank said.

At the end of 2005, Moscow Narodny Bank Ltd. had total assets of 1.48 billion pounds sterling (about $2.73 billion), shareholder equity of 330.3 million pounds sterling (about $611 million) and net profit of 14.1 million pounds sterling (about $26 million).

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