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Gazprombank to receive $1.36 billion from Gazprom

Gazprombank to receive $1.36 billion from Gazprom
FILE PHOTO: The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin   -   Copyright  SERGEI KARPUKHIN(Reuters)
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MOSCOW (Reuters) – Russia’s third biggest lender Gazprombank said on Friday it would receive 90 billion roubles (1.04 billion pounds) by Jan. 31 from one of the companies controlled by gas giant Gazprom, which holds a 46 percent stake in the bank.

“We confirm plans to receive 90 billion roubles as additional capital in the form of Gazprom perpetual subordinated deposits,” the bank said in a statement.

Reuters reported earlier that Gazprom planned to inject an extra 100 billion roubles into Gazprombank. Since it is designated by the central bank as a lender of high importance for the domestic banking sector, it needs to meet higher capital requirements set out under global bank capital rules known as Basel III.

The loan will be provided by a company called Gazprom Gazoraspredeleniye, a part of the wider Gazprom group.

(Reporting by Oksana Kobzeva and Tatiana Voronova, writing by Maria Tsvetkova. Editing by Jane Merriman)

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