Alfa-Bank will finance oil imports for Naftan

May 27, Minsk /BELTA/. CJSC "Alfa-Bank" (Belarus) has begun organizing financing for the import of oil for Belarusian enterprises, BELTA was informed by the bank. Amsterdam Trade Bank (Netherlands) and OJSC "Naftan" (Belarus) signed a credit agreement on May 22 on opening a renewable credit line by the bank for a period of one year in favor of the Belarusian oil refining enterprise. Alfa-Bank acted as the organizer of the credit line. The total amount of the credit line for "Naftan" was 30 million euros. The funds will be used by the Belarusian oil refining enterprise to purchase crude oil from European suppliers, including Russian ones. This is direct lending to "Naftan" by Amsterdam Trade Bank. The term of each drawdown is two months, which best corresponds to the economic cycle of the plant. "Naftan" already made the first drawdown on May 25. In April of this year, Managing Director of CJSC "Alfa-Bank" Alexander Silvestrov first announced the intentions of the Belarusian bank to actively work in the market of financing the purchase of oil products. As of May 1, 2009, the regulatory capital of CJSC "Alfa-Bank" (Belarus) amounted to Br96.05 billion, an increase of Br37.8 billion since the beginning of the year. In percentage terms, the capital increase was 65%. Thus, the regulatory capital has increased almost 1.7 times since the beginning of the year. -0-