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Raiffeisen Bank Aval attracts USD 180 mln loan from parent structure

Raiffeisen Bank Aval attracts USD 180 mln loan from parent structure

16 October 2008

Raiffeisen Bank Aval (BAVL: BUY) announced yesterday, it received a USD 180 mln loan from parent Raiffeisen Zentralbank Oesterreich AG. The loan agreement was signed on October 13. The loan will mature on December 31, 2008, though the agreement can be prolonged until December, 31, 2010. Alexander Viktorov: While Ukrainian local-owned banks have to apply to the National Bank to attract refinancing loans (they have already tapped it for about USD 1.2 bln in October), foreign-owned banks, such as Aval, are benefiting from support from their parent structures.

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