By Andrei Skvarsky.
J.P. Morgan has extended a five-year loan of $100m to Sberbank for the “pre-export financing of a corporate client in the Russian oil and gas sector”, Russia’s biggest lender said.
The loan “comes at a time of uncertainty about the availability of liquidity in Europe and is testimony to our trusted relationship with Sberbank, the strength and capacity of our trade finance capabilities, and our ongoing commitment to the Russian market”, a Sberbank statement quoted Jeremy Shaw, J.P. Morgan’s regional executive for Europe, the Middle East and Africa, as saying.
The two banks have a business relationship dating back to 1993.
Sorry, comments are closed for this post.