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    Russia's Binbank to secure ruble loan -1

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    MOSCOW, May 19 (RIA Novosti) - Binbank, one of Russia's leading commercial banks, said Friday it was set to secure a debut ruble-denominated syndicated loan of 500 million rubles ($18.5 million).

    The loan organizers - International Moscow Bank, one of the country's top 30 banks, and state-run foreign trade bank Vneshtorgbank - have started forming a syndicate to grant the loan with a maturity of one year and a 9.5% interest rate.

    Binbank president Mikhail Shishkhanov holds over 64% of the bank's shares. As of April 1, 2006, its shareholder equity was 6.63 billion rubles (about $218 million) and it had assets of 66 billion rubles (about $2.3 billion).

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