Bank News

A Meeting of the Russian Bank for Development Supervisory Board Has Been Held

12 Декабря 2006

On December 8, 2006 the meeting of the Supervisory Board of the Russian Bank for Development was held. The participants summarized preliminary results of the Bank’s operations in 2006 and approved next year’s business plan, which envisages financing of the real economy for the purpose of the government investment policy implementation. It was likewise stated that the Bank was ready to perform its obligations within establishing of a Corporation for Development pursuant to the RF Government plans.

Moreover the Supervisory Board gave consideration to issues of RBD’s lending policy as well as management and control over the Bank’ liquidity situation.

OAO «Russian Bank for Development» (RBD) was established in 1999 pursuant to Decree of the Government of the Russian Federation No. 391-r dated March 10, 1999 and Federal Law "On the Federal Budget for 1999" as a national development bank. The Bank’s core business is to provide long-term loan based funding to projects in priority sectors of the national economy. It is 100% owned by the Government of the Russian Federation through the Russian Federal Property Fund. The Bank’s charter capital is RUR 4.66 billion. RBD was assigned the highest for the Russian banks international credit ratings - Standard & Poor's (BBB+, outlook stable /A-2) and Moody's Investors Service (Baa2, outlook stable).

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