Russia: Russian Malt attracted a syndicated credit in the amount of 24 mil euros

Russian Malt, a part of Avangard Bank Group attracted a syndicated credit in the amount of 24 mil euros, according to a company announcement, AK&M reported May 28.

The money is given by Nordkap Bank AG, Credit Suisse and Bayerische Landesbank with 5 years maturity.

So the company has fully provided its middle- and long-term liabilities for the foreign money, said in the announcement.

Avangard Bank was founded in 1994. It is controlled by Kirill Minovalov. Bank's authorized capital stock is 560 mil rub. Its balance sheet profit rose by 2.4% to 707 mil rub in 2006 from 690 mil rub in 2005. Avangard Bank's net profit under IFRS increased 1.23 times to 1.027 bln rub in 2006 in relation to 830 mil rub in 2005.