Connect with us

Economy

Credit Bank of Moscow increased its TIER I capital by €68,4m

SHARE:

Published

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

Credit Bank of Moscow, among Russia’s top-10 banks by assets, announced the increase of its TIER I capital by RUB 5 bln (€68,4m).Having considered the request of Credit Bank of Moscow, Systemically Important Banks Supervision Department of Central Bank of Russia confirmed that the resolution to issue 5 mln series 15 bonds with par value of 1 000 RUB (€13,66) each qualifies under Central Bank of Russia’s Regulation No. 395 P “On the Method of Assessing Credit Institutions Equity Capital (Basel III)” dated December 28, 2012.

The subordinated bonds series 15 (state registration number 41501978В of 16.07.2018) were placed on July 24, 2018.

The RUB 5 bln (€68,4m) issue pays 12.00% per annum during the first coupon period. The first coupon rate will also apply to coupon periods 2 to 11. The bonds are callable after 5.5 years (11 coupon periods) from the placement date and then every 5 years (1,820 days).

About Credit Bank of Moscow

CREDIT BANK OF MOSCOW is a universal commercial privately-owned bank providing the full range of banking services to corporate and retail customers and financial institutions. The Bank is included in the CBR`s list of systemically important banks. The Bank was ranked as a top-3 privately-owned bank by total assets in INTERFAX-100 as at 1Q2018. The Bank is currently rated ‘Ba3’ with a stable outlook by Moody’s; ‘BB-‘ with a stable outlook by Fitch; ‘ВВ-‘ with a stable outlook by S&P; ‘А (RU)‘ with a stable outlook by ACRA; ‘ru A-‘ with a stable outlook by Expert RA. CREDIT BANK OF MOSCOW is remarkable for its strong business diversification, efficient risk management system, long-term partnerships and efficient delivery of service packages. The Bank has been in trade finance business since 2001, in syndicated loan market since 2003 and in Eurobond market since 2006. CBM is also a Principal Member of MasterCard, Visa and JCB.

The Bank was founded in 1992 and acquired by Mr. Roman Avdeev in 1994. Concern Rossium holds 56.07% of CBM’s shares, the remaining 43.93% of its shares are owned by minority shareholders. CREDIT BANK OF MOSCOW successfully closed its initial public offering on the Moscow Exchange in June 2015, and in June 2016 the Bank’s shares (ticker: CBOM) were included in MICEX and RTS indices. The Bank`s free-float is 22%.

 

Advertisement

Share this article:

EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter.

Trending