The Bank of Moscow Group has joined a syndicate to finance construction of the GM motor works in St. Petersburg

Photo: Vice-President of the Bank of Moscow Vladimir Fedorov

BM Bank (which belongs to the Bank of Moscow Group) has joined a syndicate to finance construction of the GM motor works in St. Petersburg. The total financing will amount to 150 million US dollars.

The funds are to be provided by the European Bank for Reconstruction and Development (the loan organiser), BM Bank and a number of other credit institutions. "This is the first EBRD syndication in which the Bank of Moscow Group has participated", noted Vice-President of the Bank of Moscow Vladimir Fedorov.

The new GM plant will be the main site for the car-manufacturer. The plant will have a production capacity of 77 thousand vehicles a year. It is planned to launch production in the autumn of 2008.

"GM is a strategic partner of the Bank of Moscow", says Vladimir Fedorov. "The Bank actively collaborates with GM structures: in particular, the Bank of Moscow services accounts for ÎÎÎ General Motors CIS and ÎÎÎ General Motors Daewoo Auto and Technology CIS.

Data on BM Bank

ÎÎÎ BM Bank (Licence of the National Bank of Ukraine? 223 dated 03 February,2006) is a Ukrainian subsidiary structure of one of the biggest Russian banks — the Bank of Moscow.

The registered authorised equity capital of BM Bank is 340 657 850 grivna (equivalent to $67.5 million).
The ownership interest of the Bank of Moscow amounts to 99.91% and that of BM Holding AG to 0.09%.

BM Bank’s main objective in Ukraine is to create a major universal Bank for servicing corporate clients and private individuals by combining the opportunities offered by the leading Russian bank with experience and knowledge of Ukrainian business.

In 2007, BM Bank underwent a powerful surge of growth and development. For instance, during the year, the Bank’s authorised equity capital was increased twice; issue of debit cards was launched; the Bank issued corporate bonds; the head office moved to a new building; the first ten branches were opened; the cum of loans issued to legal entities quadrupled and that to private individual went up five-fold.

In compliance with a decision of the National Bank of Ukraine on classification of banks in accordance with the size of the regulative capital and assets in 2008, BM Bank was classed in group III, including banks with a regulative capital in excess of 100 million grivna (equivalent to $20 million) and assets of over 1 billion grivna (equivalent to $200 million).

Center of public relations, Bank of Moscow
(495) 624-74-40
pr@mmbank.ru

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