As reported by Ludmila Goncharova, Deputy Chairman of the Board, the loan is renewed on the terms of its reimbursement by monthly instalments: monthly disbursements amount to RUR 70-120ml.

In the period of the financial crisis in November 1998 and March 1999, Central Bank of Russian Federation granted stabilzsation loans to Bank Vozrozhdeniye in the total amount of RUR 1,250 ml. The first tranche in the amount of RUR 380 ml was repaid by the Bank in November 2001. The Bank obtained the second tranche against the Moscow municipality's guarantee, which secured the $32 ml loan extended to AZLK by the Bank before the crisis.

L.A.Goncharova informed, that at the moment negotiations are being conducted with the Moscow municipality with respect to the schedule of debt repayment next year. Herewith, repayment by the Bank Vozrozhdeniye of the Central Bank's stabilization loan is not dependent on the AZLK debt repayment to the Bank.

Reference
The Bank is progressing steadily: the resource and client base has been substantially strengthened. Broadening its offer of banking services including introduction of new types of deposits and bankcard services contributes to the sufficient inflow of personal savings. For 8 months 2001 alone, the Bank's customer balances grew by 23%, where personal accounts balances grew by 36%. The Bank's net assets increased by 7% and the loan portfolio grew by 12%.

Vozrozhdeniye is the only Russian bank, whose shares in the form of ADRs are traded on the Frankfurt, Berlin and Stuttgart Stock Exchanges. At the moment, about 15% of the Bank's shares belong to the foreign investors, out of which 8% belong to the Canadian Imperial Bank (CIBC) and 3.8% are in possession of the ADRs holders.