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MDM Bank to raise foreign loans
RBC, 27.02.2008, Moscow 17:32:58.MDM Bank intends to receive foreign loans worth a total of $1bn in 2008, Chairman of the bank's Management Board Michel Perhirin told journalists today. The loans are expected to be taken out from international financial institutions, such as the International Financial Corporation (IFC) and the World Bank. However, Perhirin noted that the bank had no need to borrow funds at the moment, as it could also use deposits, which were expected to grow from $4.8bn in 2007 to $7bn in 2008. In addition, the bank has a $1.7bn liquidity cushion, Perhirin stated.
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