Otkritie breaks Russian loan drought while Promsvyazbank waits

By Dan Alderson
13 Nov 2014

Russian private bank Otkritie Financial Corp Bank (formerly Nomos Bank) this week became the first Russian bank to achieve a loan with international lenders since the EU and US imposed a deeper round of sanctions – specifically targeting loans to Russia – on September 12.

But while loans bankers widely hailed the deal and its imminent accompaniment by peer Promsvyazbank, some stressed that these are exceptions rather than a glimpse of returning normality in the Russian loans market. And they noted that both loans also bear the mark of sanctions.

Otkritie agreed a ...

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